Ripple USD stablecoin (RLUSD) has achieved a major milestone, with its total circulating supply on the Ethereum network exceeding one billion tokens. According to DefiLlama data, RLUSD now has a circulating supply of 1.261 billion, giving it a corresponding market capitalization of $1.261 billion.

This achievement is particularly notable given that RLUSD is less than a year old in the crypto ecosystem. Over 1.02 billion RLUSD are now actively minted and circulating on Ethereum, reflecting strong adoption and trust from the user community.

The growth also highlights RLUSD’s rising liquidity and relevance in an ecosystem dominated by other stablecoins such as Tether (USDT) and Circle (USDC). Its increasing use demonstrates that users are confident using RLUSD for payments and transactions.

In recent activity, Ripple has accelerated minting on the XRP Ledger, adding another 10 million RLUSD in the past 72 hours. In November alone, 77 million RLUSD were minted, underscoring consistent demand from traders and investors, despite broader fluctuations in the crypto market.

Regulatory approvals are boosting RLUSD’s utility as well. The stablecoin recently received a fiat license in the Middle East, allowing it to be used as lending collateral in the Abu Dhabi Global Market financial free zone. This step expands RLUSD’s real-world applications and strengthens its position in the sector.

The steady adoption of RLUSD has also enabled it to surpass the memecoin BONK in market capitalization, with RLUSD now valued at $1.261 billion compared to BONK’s $823.6 million. This marks a significant achievement for Ripple’s stablecoin in less than a year since its launch.