Aave has announced the listing of Ripple's RLUSD stablecoin on its V3 Ethereum Core market. Users can now supply and borrow RLUSD on the decentralized lending platform. The market includes a supply cap of 50 million RLUSD and a borrow cap of 5 million RLUSD.
RLUSD is pegged 1:1 to the U.S. dollar and backed by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents. The stablecoin also incorporates security features such as a clawback feature on the XRP Ledger.
Industry experts suggest that RLUSD could change crypto market dynamics and potentially compete with established stablecoins like Tether's USDT and Circle's USDC. The listing may also increase the appeal of XRP among investors. As of April 22, 2025, RLUSD has achieved a market capitalization exceeding $293 million, with a trading volume of $36.12 million, signaling increasing liquidity.