- The global stablecoin market cap reached a record $280.47 billion, according to DefiLlama.
- Tether (USDT) leads the stablecoin market with a $167.3 billion market cap; USD Coin (USDC) holds second place with $69.1 billion.
- Ripple’s RLUSD stablecoin is now the 13th largest stablecoin, with a market cap of $687.6 million.
- The new GENIUS Stablecoin Act requires U.S. stablecoins to be backed one-to-one by high-quality assets and issued only by permitted entities.
- Ripple’s increasing role in the stablecoin sector is highlighted by its adoption among banks and the performance of its XRP token.
The total market value of stablecoins worldwide hit a record $280.47 billion. Tether (USDT) holds the largest share with a $167.3 billion market cap, while USD Coin (USDC) follows at $69.1 billion. This surge comes as the use of digital coins tied to the U.S. dollar continues to rise.
According to data from DefiLlama, Ripple’s RLUSD is now ranked as the 13th largest stablecoin. RLUSD currently has a market cap of $687.6 million. The coin is among the newest dollar-pegged tokens in the market.
The recent GENIUS Stablecoin Act, signed into law in July by President Trump, sets new requirements for stablecoin issuance in the U.S. Only approved issuers, called Permitted Payment Stablecoin Issuers (PPSIs), can release stablecoins. The law also states that all stablecoins must be fully backed one-to-one with top-quality liquid assets.
Ripple has received strong support in the cryptocurrency space for introducing RLUSD. The company is already well-known and has seen strong adoption by banks, especially in Japan. Industry watchers expect the GENIUS Act could result in similar growth patterns in the U.S.
RLUSD’s launch coincides with increased attention on Ripple’s XRP token, which set a new all-time high of $3.65 on July 18, the day the GENIUS Act was signed. This timing may reflect closer links between Ripple’s products and the growth of stablecoins.
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