TLDR
- Ripple’s Managing Director for the Middle East and Africa claims RLUSD processes $10 billion in daily transaction volume.
- The statement was made during an interview with Finance World Magazine at the Dubai Fintech Summit.
- RLUSD is Ripple’s USD-pegged stablecoin that was launched last year to support fast and low-cost cross-border payments.
- CoinMarketCap data shows RLUSD currently has a market capitalization of approximately $455 million.
- The reported daily volume figure has sparked debate due to the wide gap between trading volume and market cap.
Ripple’s senior executive recently claimed that the firm’s stablecoin RLUSD processes $10 billion in daily transaction volume. The claim comes amid rising interest in USD-backed stablecoins and their role in cross-border settlement. However, market data suggests a mismatch between the coin’s trading volume and its market capitalization.
RLUSD Records Widespread Use Across Cross-Border Transactions
Ripple’s Managing Director for Middle East and Africa, Reece Merrick, reported that RLUSD now processes $10 billion in daily volume. He made this statement during an interview at the Dubai Fintech Summit hosted by Finance World Magazine. Merrick emphasized the role of RLUSD in enabling instant, low-cost international payments.
He explained that stablecoins such as RLUSD are designed to bypass inefficiencies tied to traditional payment methods. Ripple launched RLUSD last year with the goal of streamlining value transfer without reliance on intermediaries. Since its launch, it has reportedly gained traction in markets outside the United States.
to bring $3.65 Trillion volume for RLUSD in relation to Tether.
Tether surpassed $10T in 2024 and is on its way to double this in 2025 with over $1T in the last 30D.
Tether has a market cap of $158B and more outstanding coins than most Top 5 stables.
Volume and MC is not… pic.twitter.com/ehge11M9Lz
— Vet (@Vet_X0) June 30, 2025
Merrick highlighted that nearly half of global cross-border settlements are conducted in U.S. dollars. He noted that most of these transactions happen beyond U.S. borders, underlining the need for USD-pegged alternatives. RLUSD, according to him, addresses this demand and offers a practical solution.
Market Cap and Volume Disparity Sparks Debate
The claim regarding RLUSD’s $10 billion daily volume raised questions due to its modest market capitalization. Current CoinMarketCap data places RLUSD’s market cap at approximately $455 million. Despite this, it’s reported daily trading volume hovers around $22 million.
This discrepancy led to skepticism among crypto analysts and community figures. Some observers suggested that Merrick may have intended to state millions instead of billions. The figure he mentioned would translate to a projected annual volume of $3.65 trillion.
Crypto community validator “Vet” compared the volume figures to USDT, which has a market cap of $158 billion. He stated that USDT processed over $1.7 trillion in the past 30 days. Based on that, USDT’s daily volume stands at about $56.6 billion.
USDT Performance Highlights Context Around Stablecoin Claims
Vet pointed out that USDT’s high volume is possible due to its large scale and widespread adoption across platforms. He clarified that his reference to RLUSD reaching trillions was hypothetical, not a prediction. However, it highlighted the difficulty of achieving such high volumes with limited liquidity.
Tether’s performance indicates that a high market cap often supports large transaction volumes. Yet, RLUSD’s reported numbers do not align with this standard metric. The community continues to monitor RLUSD’s activity and evaluate future developments.
Stablecoins remain central to the evolving digital payments landscape. Due to their speed and reduced cost, they are increasingly used in international transfers. Ripple’s RLUSD aims to play a bigger role in this expanding sector.
