Ripple's RLUSD stablecoin reached a market capitalization of $2.5 billion according to CoinGecko and approximately $2.6 billion according to Ripple

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Supply, adoption, and competitive dynamics of fiat-pegged tokens, tracking issuers like Tether and Circle and the payment and trading flows they power.