Ripple USD Crosses $1.5 Billion Milestone Amid Institutional Growth

Ripple USD stablecoin has crossed $1.5 billion in market capitalization as institutional utility grows.

Ripple USD ($RLUSD)’s market capitalization is currently at $1.52 billion, according to CoinMarketCap data. The Ripple stablecoin is currently ranked as the 46th largest cryptocurrency by market cap.

In recent news, UAE bank Zand, together with Ripple, announced a partnership to help advance and support the digital economy, with innovative solutions powered by the Zand AED (AEDZ) stablecoin and Ripple’s USD ($RLUSD) stablecoin.

Powerful new use cases can be unlocked by leveraging stablecoins, blockchain technology and tokenization, as traditional finance moves on-chain, and the partnership between Ripple and Zand represents a significant step forward in the growth of the digital asset ecosystem.

$RLUSD expands

The Ripple USD has seen new listings of late. In a new listing, $RLUSD was listed on the HashKey exchange.

In the past week, Major crypto exchange Binance completed the integration of Ripple USD ($RLUSD) on the $XRP network, with deposits and withdrawals now open. This follows an earlier listing by Binance on Ethereum.

The listing on Binance includes spot trading support for $RLUSD and portfolio margin eligibility, and increasing $RLUSD’s utility in leveraged trading strategies will be added.

Inclusion in Binance Earn is soon to come, giving users new ways to interact with and benefit from $RLUSD holdings.

Earlier in the year, Hong Kong-based crypto exchange OSL announced $RLUSD listing with two trading pairs, $RLUSD/HKD and $RLUSD/USDT, offered to professional investors, and with over-the-counter (OTC) trading services.

$XRP sees institutional demand

At the recent $XRP community event, Rayhaneh Sharif Askary, head of product and research at Grayscale, highlighted continued interest in $XRP.

The Grayscale head of product and research stated that advisors across the country consistently hear about $XRP from their clients, highlighting persistent demand.

Grayscale shared this detail in a recent tweet, highlighting the strong community behind $XRP as demand stays persistent.

“Advisors are constantly asked by their clients about $XRP, and in some cases, it’s the second most talked about asset in this community behind Bitcoin,” the asset manager noted, sharing a recap of Sharif Askary’s comments at the recent $XRP Community Day event.

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