Ripple’s RLUSD Stablecoin Gains Retail Traction Despite Initial Enterprise Focus
- Ripple introduced its stablecoin, Ripple USD (RLUSD), in December, with a market cap of $557.7 million.
- 88% of RLUSD is issued on the EVM sidechain, while only about 12% comes from the XRP Ledger (XRPL).
- 91% of RLUSD’s holders are on the XRPL, indicating a strong preference for this platform among users.
- Initial marketing emphasized enterprise use, yet retail adoption is increasing through wallets like Xaman and platforms such as Transak.
- Ripple CEO Brad Garlinghouse previously referred to RLUSD as the “gold standard for enterprise-grade stablecoins.”
Despite its initial positioning as an enterprise-focused stablecoin, Ripple’s RLUSD is witnessing significant adoption among retail users, particularly on self-custodial wallets and various platforms. This shift highlights the evolving utility of stablecoins beyond their original marketing intentions.
The majority of RLUSD holders prefer XRPL despite most issuance occurring on the EVM sidechain, showcasing a notable trend in user preference and engagement within the ecosystem. (Source)
