[Digital Today reporter Yoonseo Lee (이윤서 기자)] Ripple’s stablecoin RLUSD rose to ninth place among global stablecoins after its market capitalisation exceeded $1.64 billion.

A blockchain media outlet, U.Today, reported on June 15 that RLUSD surpassed a market value of $1.64 billion for the first time about a year after its launch.

The ranking rise came alongside a recovery in investor sentiment across the broader cryptocurrency market. Major cryptocurrencies and stablecoins are showing growth after months of weakness, and RLUSD trading also increased rapidly. Based on SosoValue data, RLUSD trading volume jumped more than 72 percent over the past 24 hours, a trend that led to a larger market capitalisation and a higher ranking.

The backdrop of wider adoption is also drawing attention, as much as fund flows. RLUSD is expanding its use across the cryptocurrency ecosystem on the back of Ripple’s partnerships and service expansion. The article cited growing adoption among payment providers and users seeking regulation-friendly blockchain payment methods as a factor behind its growth. RLUSD was designed from the outset to support cross-border payments, and it has now established itself as a preferred payment method for institutions operating internationally.

Its regulatory foundation is also cited as a key driver of RLUSD’s growth. Unlike competing stablecoins, RLUSD operates under supervision by the New York State Department of Financial Services (NYDFS). Ripple sees this regulatory structure as a factor that boosts credibility in the stablecoin market. For institutional investors and financial institutions, a supervised structure can serve as a benchmark for assessing stability, and this was described as leading to rapid growth about a year after launch.

RLUSD’s growth could also affect the broader Ripple ecosystem. As stablecoins are used more for payments, remittances and inter-institution settlement, usage of the blockchain payment infrastructure Ripple has built could also increase. If the XRP Ledger and Ripple’s payment network are used more actively as the distribution base for RLUSD, that could also support Ripple’s expansion of its institutional business.

The emergence of regulatory compliance as an important competitive factor in the stablecoin market could also create opportunities for RLUSD. As countries tighten standards for stablecoin issuance and reserve management, whether RLUSD, which emphasises regulatory supervision, can establish itself as an institution-friendly asset is cited as a factor that will determine its future growth potential.

Markets are watching whether RLUSD’s expansion will be limited to a short-term rise in trading or whether it will broaden its share further based on institutional payment demand. With RLUSD lifting both volume and market capitalisation amid a recent shift in market sentiment, attention is focused on whether expansion of Ripple’s payment network and its regulatory framework will lead to additional adoption.