Ripple, 'Aiming' at $13 Trillion Market with RLUSD...Is XRP Left Out in the Cold?

▲ Ripple, XRP, RLUSD/AI generated image

Ripple's growth focus is shifting from XRP to RLUSD. The corporate treasury management market, where $13 trillion moves annually, has emerged as a new battleground.

According to Coingape on September 13 (local time), Jack McDonald, Ripple's Senior Vice President of Stablecoins, identified the corporate treasury management market as a major growth opportunity for RLUSD. Customers of GTreasury, which Ripple acquired for $1 billion last year, process approximately $13 trillion in transactions annually. The customer base includes about 1,200 corporate treasurers and chief financial officers.

RLUSD's growth has also accelerated. Its circulating supply has increased by over 50% in the last month, reaching $2.4 billion. Approximately $1 billion is issued on the XRP Ledger, and $1.4 billion on Ethereum (ETH). McDonald emphasized that he prioritizes actual utility over market capitalization. RLUSD's daily active trading volume surged from approximately $200 million to $750 million.

Key use cases are payments and capital markets. Ripple is expanding the use of RLUSD in tokenized money market funds and lending with partners like Franklin Templeton and DBS. In Europe, it plans to supply RLUSD with a dual issuance structure tailored to the EU's MiCA regulation, having secured relevant regulatory approval in Luxembourg.

The institutional credit market is also expanding on the XRP Ledger. Decentralized credit protocol Clearpool Finance is pursuing a plan to build institutional financial products using the XRP Ledger's lending capabilities. Ripple has invested in launching XRP and RLUSD-based yield products. Despite perceptions that XRP has been sidelined, Ripple's stablecoin and XRP Ledger strategies are simultaneously expanding in a direction that connects institutional finance.

In the United States, a procedural vote on the U.S. crypto market structure bill is scheduled in the Senate for September 15. 60 votes are needed to begin debate. Coinbase (COIN) CEO Brian Armstrong has expressed a positive stance on the bill. Coingape reported that as RLUSD targets the $13 trillion corporate treasury management market, the U.S. regulatory framework and the expansion of institutional finance on the XRP Ledger have emerged as key variables in Ripple's strategy.

[Article Key Summary]

-Ripple views the corporate treasury management market, which processes approximately $13 trillion annually, as a key growth opportunity for RLUSD.

-RLUSD's circulating supply increased by over 50% in one month, reaching $2.4 billion, and its daily active trading volume also grew to $750 million.

-The Senate procedural vote on the U.S. crypto market structure bill on September 15 and the expansion of institutional lending on the XRP Ledger are considered the next variables in Ripple's strategy.

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