RLUSD Hits Record High Amid Ripple’s Institutional Push — But XRP Is Left Behind
Ripple’s US dollar-backed stablecoin, RLUSD, has surged to a brand new all-time high, fueled by a collection of high-profile partnerships and regulatory milestones which can be accelerating its adoption amongst institutional buyers.
Yet, RLUSD seems to be the one token benefiting from Ripple’s developments and growth, as XRP bears the burden of market forces.
RLUSD Market Cap Surges Past $1.38 Billion as Ripple Expands Institutional Adoption
DefiLlama information exhibits that the RLUSD stablecoin’s market capitalization now exceeds $1.38 billion. This makes it one of many fastest-growing digital belongings, with $125 million added since late November 2025.
The newest driver of RLUSD progress comes from Ripple’s newly introduced partnership with LMAX Group. LMAX Group is a number one international cross-asset market for international alternate and digital belongings.
As a part of a multi-year collaboration, RLUSD shall be integrated as a core collateral asset throughout LMAX’s institutional buying and selling infrastructure.
This integration permits banks, brokers, and buy-side establishments to leverage RLUSD for cross-collateralization and margin effectivity in spot crypto, perpetual futures, and CFD buying and selling.
“Partnering with a frontrunner like Ripple is a milestone for LMAX,” said David Mercer, CEO of LMAX Group. “With higher US and international regulatory readability, fiat-backed stablecoins shall be a key catalyst in driving the convergence of TradFi and digital belongings, and RLUSD is positioned on the forefront.”
The LMAX partnership is complemented by a $150 million financing dedication from Ripple. This will help the alternate’s long-term cross-asset progress technique.
Institutional shoppers will profit from enhanced liquidity, safe custody through segregated wallets, and 24/7 entry to a cross-asset market. Notably, this function isn’t usually obtainable with conventional fiat currencies.
“LMAX has lengthy been a frontrunner in offering the clear, regulated infrastructure that institutional gamers require. This partnership will speed up the utilization of RLUSD—already a top-five USD-backed stablecoin—inside one of many largest and most refined buying and selling environments,” added Jack McDonald, SVP of Stablecoins at Ripple.
RLUSD’s progress trajectory is additional bolstered by Interactive Brokers’ announcement that eligible shoppers will quickly have the ability to fund accounts utilizing the stablecoin. With this, it expands its footprint into mainstream brokerage companies.
Other notable institutional adopters embrace DBS, Franklin Templeton, and SBI Holdings. This demonstrates rising confidence in RLUSD as a trusted settlement and collateral asset.
Ethereum Dominates RLUSD Supply, Limiting XRP Utility
Despite these successes, the majority of RLUSD’s supply (nearly 76%) resides on Ethereum relatively than Ripple’s native XRP Ledger (XRPL).
Therefore, whereas Ethereum integration unlocks important DeFi liquidity, it limits XRP’s direct utility. This is as a result of RLUSD transactions on Ethereum don’t contribute to XRP burns or holder income.
This state of affairs has sparked debate inside the XRP and broader crypto communities. Concern comes amid expectations that Ripple’s improvements would straight bolster XRP’s demand.
Notwithstanding, regulatory approvals proceed to help RLUSD’s institutional credibility. The Abu Dhabi Financial Services Regulatory Authority (FSRA) greenlighted RLUSD for regulated institutional use.
Meanwhile, preliminary European EMI approval in Luxembourg opens pathways for EU-wide operations. Ripple now stands out as one of the institutionally compliant crypto companies globally, with 75+ regulatory licenses.
With market capitalization topping $1.38 billion and a rising record of high-profile partnerships, RLUSD is positioned for additional growth.
Its integration into LMAX Group’s buying and selling infrastructure and recognition by international regulators mark a major step towards mainstream stablecoin adoption, bridging the hole between crypto markets and TradFi ecosystems.
As of this writing, XRP was buying and selling for $2.08, down by over 1% within the final 24 hours.
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