TL;DR
- RLUSD posted a daily trading volume of $95.4 million after a jump of nearly 77%, a figure that reshapes the direct comparison with PYUSD.
- The increase in volume reflects more intense operational use across transfers and real transaction flows.
- The integration of Rail, which contributed close to 10% of the global B2B stablecoin payments market, expanded the stablecoin’s structural base beyond the Ripple network.
Ripple USD (RLUSD) returned to the spotlight in the stablecoin market due to a key data point: daily trading volume. According to the latest CoinMarketCap figures, RLUSD moved $95.4 million over 24 hours following a surge of nearly 77%. The number matters given the broader low-activity environment and because it redefines the direct comparison with PayPal USD (PYUSD).
The volume growth does not stem from a one-off event or a short-term speculative rotation. The data points to more active use of the asset across transfers, short-term positioning, and operational flows. While RLUSD expanded aggressively, PYUSD lagged behind, posting a much smaller increase in volume. The gap is not about price, but about intensity of use.
This shift is partly driven by changes in business structure. Ripple finalized the acquisition of Rail in December, a Canada-based company focused on B2B stablecoin payment infrastructure. Rail controlled roughly 10% of the global enterprise stablecoin payments market. That share is now being directly integrated into the RLUSD ecosystem, expanding its base of real-world usage beyond trading.
RLUSD: A Stablecoin Built for Banks, Fintechs, and Enterprises
Ripple aims for RLUSD to move beyond functioning as an instrument limited to its own network and instead operate as an interoperable stablecoin tailored to banks, fintechs, and companies that need to settle cross-border payments on blockchain rails. The focus is on volume, circulation, and utility, not on marketing or artificial incentives.
The stablecoin has a short track record. RLUSD launched in December 2024 and, in less than a year, reached a market capitalization of $1.02 billion, placing it among the top five stablecoins. In March 2025, Brad Garlinghouse publicly stated that this was the target. That market cap was achieved without aggressive promotional campaigns or subsidy schemes.
The shift is primarily structural. RLUSD is beginning to occupy an operational niche that other corporate stablecoins failed to sustain. The market is not rewarding promises, but execution. Volume is the clearest signal of that
