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Ripple’s US dollar-backed stablecoin RLUSD has risen to an all-time high, driven by a series of landmark partnerships and regulatory milestones that are accelerating its adoption among institutional investors.
However, RLUSD appears to be the only token to benefit from Ripple’s developments and expansion, with XRP bearing the brunt of market forces.
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RLUSD Market Cap Grows To Over $1.38 Billion As Ripple Expands Institutional Adoption
DefiLlama data shows that the market capitalization of the stablecoin RLUSD now exceeds $1.38 billion. This makes it one of the fastest growing digital assets Added $125 million From the end of November 2025.
The latest growth engine for RLUSD comes from the recently announced partnership between Ripple and LMAX Group. The LMAX Group is a leading global multi-asset marketplace for foreign exchange and digital assets.
As part of a multi-year collaboration,… to unite RLUSD as an underlying security asset via LMAX’s institutional trading architecture.
This integration allows banks, brokers and lateral institutions to leverage RLUSD for cross-collateralization and margin efficiency in spot crypto, perpetual futures and contracts for difference (CFDs).
He said David Mercer, CEO of LMAX Group: “Partnering with a leader like Ripple is a historic achievement for LMAX.” “With greater regulatory clarity in the US and around the world, fiat-backed stablecoins will be a major catalyst in driving the convergence of traditional finance and digital assets, and RLUSD is at the forefront.”
The LMAX partnership complements a $150 million funding commitment from Ripple. This will support the long-term growth strategy for the assets in the exchange.
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Institutional clients will benefit from improved liquidity, safe custody through segregated portfolios, and 24-hour access to the transit asset market. It should be noted that this feature is not usually available with traditional paper coins.
“LMAX has long been a leader in providing the transparent and regulated infrastructure that institutional players need. This partnership will accelerate the use of RLUSD – already a top-five USD-backed stablecoin – in one of the largest and most advanced trading environments,” added Jack MacDonald, Senior Vice President of Stablecoins at Ripple.
RLUSD’s growth trajectory has been further strengthened With an announcement Interactive Brokers has announced that eligible customers will soon be able to fund accounts with stablecoin. In doing so, it expands its footprint to include prime brokerage services.
Notable institutional adopters are also among them DBS, Franklin Templeton and SBI Holdings. This demonstrates the growing confidence in RLUSD as a reliable facility and collateral asset.
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Ethereum dominates the supply of RLUSD, limiting the utility of XRP
Despite these successes, Most of the RLUSD supply (almost 76%) is on Ethereum Instead of Ripple’s original XRP Ledger (XRPL).
So, while the integration of Ethereum opens up significant liquidity in DeFi, it limits the direct benefit of XRP. This is because RLUSD transactions on Ethereum do not contribute to XRP burn or income of holders.
This situation has sparked controversy in the XRP community and the broader cryptocurrency community. These concerns come amid expectations that Ripple’s innovations will increase direct demand for XRP.
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However, regulatory approvals continue to support RLUSD’s institutional credibility. Approved by the Abu Dhabi Financial Services Regulatory Authority (FSRA) In RLUSD for regulated institutional use.
At the same time, it opens Preliminary approval for European monthly premium insurance in Luxembourg Pathways for operations at EU level. Ripple is now one of the most institutionalized cryptocurrency companies in the world, with more than 75 regulatory licenses.
With a market capitalization of more than $1.38 billion and outstanding The growing number of prominent partnersRLUSD is positioned for further expansion.
Its integration into LMAX Group’s business architecture and recognition by global regulators represents an important step towards the mainstream adoption of stablecoins, bridging the gap between cryptocurrency markets and traditional financial systems.
At the time of writing, XRP is trading at $2.08, down more than 1% in the last 24 hours.
