Ripple's stablecoin RLUSD experienced a 47% growth in its supply in June, making it the fastest-growing major stablecoin during that period.
The majority of RLUSD's supply, approximately $390 million out of $455 million, is on the Ethereum platform, indicating a significant increase from January.
Ripple's strategic shift towards interoperability has seen RLUSD supported across multiple chains, with Ethereum being the preferred platform due to its liquidity and DeFi integrations.
Legal clarity from regulations like the GENIUS Act in the U.S. and approval from the Dubai Financial Services Authority have contributed to RLUSD's market credibility and growth, positioning it as a new contender in the stablecoin market.