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Ripple’s stablecoin RLUSD experienced a 32.3% increase in supply from June to July, exceeding $600 million.
This marked the second largest supply growth among stablecoins with over $500 million in supply growth, trailing only Ethena Labs’ USDe, which saw a 63.4% increase during the same timeframe.
Since May, RLUSD has been on a robust growth trajectory, nearly doubling its supply by July 31. The stablecoin’s market capitalization rose from $309 million to $455.3 million between May and June, representing an increase of over 47%. In August alone, it had already increased by 3%.
Additionally, RLUSD surpassed $11 billion in total transfer volume in 2025. The stablecoin achieved a new monthly record in July, with $3.3 billion in volume across various platforms, which is 27% higher than June.
Importantly, RLUSD has maintained a monthly trading volume above $1 billion since April, when it first exceeded this mark with a volume of $1.8 billion.
This growth coincided with Ripple’s initiatives to enhance RLUSD’s market presence.
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Initially, Ripple CEO Brad Garlinghouse revealed that the company was pursuing a national banking charter for RLUSD. Alongside the stablecoin’s registration with the New York Department of Financial Services, this would position RLUSD as the first stablecoin under both state and federal regulation in the US.
On July 9, Ripple announced BNY Mellon as its custodian partner.
The company then adopted a multi-faceted global strategy to broaden RLUSD’s market share. In the United States, the Federal Reserve’s formal acceptance of the ISO 20022 messaging standard benefited Ripple’s status as the first blockchain-centric company to join the ISO 20022 Standards Body in 2020.
Simultaneously, Ripple is reportedly making significant strides toward entering the European market by ensuring RLUSD is compliant with MiCA regulations, establishing a strategic base in Luxembourg.
However, skepticism remains regarding the organic nature of RLUSD’s growth. Blockchain analyst ZachXBT raised questions about the authenticity of Ripple’s stablecoin user base before removing his social media post.
Expressing his concerns differently, the analyst stated that he has greater trust in other stablecoin issuers “infinitely more than Ripple,” including Circle, Paxos, and Tether.
The post Ripple’s RLUSD stablecoin hits $600M supply milestone in July appeared first on CryptoSlate.
