- RLUSD debuts on Aave V3 with a $50M supply cap, but lending activity remains inactive.
- Ripple’s stablecoin adoption climbs, hitting $293M market cap and $36M daily volume.
- RLUSD now used in Ripple Payments, with U.S. lawmakers eyeing new stablecoin regulations.
Ripple’s US dollar-pegged stablecoin, RLUSD, gained new utility with support on the Aave V3 Ethereum Core Market. This allows institutional/DeFi users to supply/borrow RLUSD, although pool activity was minimal right after listing. The listing comes amid broader adoption of RLUSD, which has now surpassed a market capitalization of $293 million since its December 2024 launch.
Aave Integration Details and Early Activity
On Aave V3 (Ethereum), RLUSD has specific parameters: a 50M supply cap and 5M borrow cap. Initial on-chain data showed only 125 RLUSD supplied (<0.01% utilized), with reserve/liquidity at ~$125 and its oracle price stable at $1.00. Low utilization means the deposit APY is currently 0%.
Related: Ripple’s RLUSD Stablecoin Could Enter Top 5 by 2025, Says Analyst
RLUSD Adoption Grows Across Payments and Exchanges
This Aave listing marks another step in RLUSD’s steady adoption, now exceeding $293M market cap with $36.12M daily volume signaling rising liquidity.
Ripple has also integrated RLUSD into its proprietary payments platform, Ripple Payments, optimizing cross-border flows for enterprise clients. RLUSD is currently used in test transactions with providers such as BKK Forex and iSend to streamline cross-border treasury operations. These integrations follow Ripple’s announcement at the beginning of April that RLUSD would become a core part of its enterprise payments infrastructure.
RLUSD has also launched on the Kraken cryptocurrency exchange, offering additional access points for institutional and retail traders. According to Ripple’s SVP of Stablecoins, Jack McDonald, the stablecoin is now utilized for various collateralized operations in crypto-native and traditional financial markets.
Related: Enterprise Focus: Ripple Integrates RLUSD Stablecoin into Core Payments
The developments surrounding RLUSD arrive as the U.S. Congress prepares to vote on a stablecoin-focused regulatory bill.
Additionally, the Trump-supported World Liberty Financial DeFi project has disclosed plans to introduce its USD-pegged token, signaling broader competition in the stablecoin segment.
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