Bitcoin24h $62,650.23-0.34%

Ethereum24h $1,770.30-1.05%

BNB24h $587.36+1.91%

XRP24h $1.14-3.11%

Solana24h $81.16-1.19%

TRON24h $0.3293+1.16%

Hyperliquid24h $69.41-1.80%

Dogecoin24h $0.0769-2.08%

UNUS SED LEO24h $9.24+1.12%

Zcash24h $461.86-0.80%

Ripple used Ethereum to list its RLUSD stablecoin in Japan

Ripple’s RLUSD became Japan’s first Type 4 instrument, but the only version that holders in the country can use runs on Ethereum.

Most of Ripple’s own stablecoin lives on Ethereum

$879 million of the $1.63 billion worth of tokens in circulation sits on Ethereum versus $760 million on the XRP Ledger.

Crypto exchanges report around $55M in RLUSD volume over the last 24 hours — 99.4% less than Circle’s $9.8B for its much larger USDC.

Ripple is selling over a billion dollars worth of cash, equity, and XRP tokens to fund an acquisition that it hopes will boost RLUSD volumes.

Despite excellent political and banking conditions for stablecoins, PayPal’s PYUSD and Ripple’s RLUSD are still less than 1% of the market.