PANews reported on July 9 that according to The Block , the circulation of RLUSD , a dollar-pegged stablecoin issued by Ripple , has exceeded US$ 500 million in seven months since its launch in December 2024. RLUSD is issued on XRP Ledger and Ethereum and is currently among the top 20 US dollar stablecoins in the world, with a daily trading volume of approximately US$ 26 million. The currency is backed by cash, cash equivalents and short-term US Treasury bonds, and is 1:1 anchored to the US dollar. Currently, Ripple is seeking a US national trust bank license to directly hold customer deposits and issue RLUSD . Overall, the total market value of the US dollar stablecoin market has approached US$ 250 billion, accounting for more than 95% of the total stablecoin market.