Ripple has launched its RLUSD stablecoin on the Kraken exchange, integrating it into its payment platform to enhance cross-border payment capabilities.

The new stablecoin is already being utilized by Ripple Payments customers, including BKK Forex and iSend, for treasury management and global settlements, reflecting a growing demand from enterprises.

Since its launch, RLUSD has quickly approached a market capitalization of nearly $250 million, with transaction volumes exceeding $10 billion.

Backed by short-term U.S. government bonds, RLUSD gained regulatory approval from the New York Department of Financial Services in December 2024, bolstering its credibility.

Ripple is exploring partnerships with NGOs to leverage stablecoins for more efficient aid distribution.

Additionally, Ripple is targeting opportunities in decentralized finance (DeFi) and asset tokenization, with RLUSD playing a crucial role in these sectors.

In the past month alone, RLUSD has achieved a transfer volume of $860 million, demonstrating its rapid adoption and utility.

Ripple CEO Brad Garlinghouse highlighted the significance of regulatory standards, noting that RLUSD operates under a prestigious regulatory framework provided by the New York State Department of Financial Services.

RLUSD facilitates instant international payments and improves liquidity for global businesses, while also supporting decentralized finance (DeFi) protocols.

Jack McDonald, Ripple's senior vice president of stablecoins, reported that RLUSD is exceeding initial market expectations and is being used as collateral in both cryptocurrency and traditional finance markets.

The regulation of RLUSD by the New York Department of Financial Services enhances its reliability and appeal for enterprises seeking compliant digital asset solutions.

The stablecoin improves international payment efficiency, enabling businesses to minimize costs and optimize their global operations.