Ripple’s U.S. dollar-pegged stablecoin, RLUSD, has surpassed a market capitalization of roughly $500 million, less than seven months after its debut, according to blockchain data cited on 9 July. The token, issued on the Ethereum network, has become one of the fastest-growing new stablecoins this year, underscoring early demand for additional dollar-backed options beyond market leaders such as Tether’s USDT and Circle’s USDC. Analysts said the milestone positions RLUSD to compete more aggressively for market share in the $160 billion stablecoin sector and could bolster Ripple’s broader push to expand its presence in dollar-denominated on-chain payments.