In February alone, Ripple Labs signed five major partnerships and grew the RLUSD stablecoin market capitalization to $1.56 billion, XRP (CRYPTO:
On January 30, Ripple revealed Ripple Treasury, an enterprise platform born from its billion-dollar acquisition of GTreasury, a Chicago-based company.
The product enables corporate finance teams to manage traditional cash and digital assets through a single system, moving money across borders in three to five seconds using RLUSD instead of three to five business days via bank transfers.
The platform connects companies to the forward repo markets and tokenized money market funds, including the BUIDL fund of BlackRock (NYSE:BLK), allowing companies to generate a return on their permanently idle cash.
-
Moreover, Sanda digital bank in the United Arab Emirates, has signed an agreement for stablecoin payment solutions.
-
Separately, Societe Generale’s SG-FORGE launched its European stablecoin EURCV on the XRP Ledger, making XRPL one of three blockchains hosting a stablecoin from a major European bank alongsideEthereum (CRYPTO: ETH) and about Solana (CRYPTO: SOL).
-
RLUSD grew from a market cap of $1.33 billion in January to $1.56 billion in March, a 1,000% increase from just $132 million the year before. The stablecoin processed 515,000 transactions over a 30-year period. days, with volume reaching $3.5 billion.
-
BNY Mellon (NYSE:BK), America’s oldest bank, serves as the primary custodian of RLUSD’s reserves.
-
In Asia, SBI Holdings has deployed RLUSD in Japan, and the Monetary Authority of Singapore has included it in the BLOOM pilot program that explores tokenized financial services.
