Ripple USD stablecoin, RLUSD, is gaining significant traction in the market, with the recently released February attestation report highlighting growth.

In a tweet, Jack McDonald, SVP of Stablecoins at Ripple, stated that the February monthly independent attestation for RLUSD is live, going further ahead to share highlights of the recently released report.

In a recent tweet, Jack McDonald, SVP of Stablecoins at Ripple (NYSE:PYPL), shared an update on the February monthly independent attestation for Ripple USD stablecoin, RLUSD.

“The Feb monthly independent attestation for $RLUSD is live

– Market cap (~$170M) is outpacing our internal projections – we expect to be a top 5 stablecoin by EOY 🔥

– RLUSD is available on new exchanges including @LMAX with more to come…”

The post saw McDonald go further ahead to share highlights of the recently released report.

According to the Ripple executive, RLUSD has seen a market cap surge that has now passed the $170 million mark, outpacing internal projections and setting the stage for a potential top-five ranking by year’s end.

Moreover, RLUSD has also scored new exchange listings with the stablecoin now available on new platforms, including LMAX, a leading institutional FX trading venue, and the renowned crypto exchange.

“Another busy month for the team! We continue to see strong adoption of RLUSD across the ecosystem. Great to see the market cap pass $170M & new exchange listings with LMAX. We’re also seeing new use cases emerge with DeFi liquidity pools & NGOs using RLUSD to streamline charitable giving.”

Earlier reports from December 2024 saw the launch of Ripple’s stablecoin on multiple exchanges and crypto platforms.

These exchanges include Uphold, MoonPay, Archax and CoinMENA, with listings also on Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve and Zero Hash.

Earlier reports also highlight how the stablecoin has been used in innovative ways, such as its integration into DeFi liquidity pools and the role it plays in enabling NGOs to streamline charitable giving.

The last 24 hours saw a return in minting in RLUSD with 17 million tokens minted at the RLUSD Treasury.

RLUSD prediction

In his tweet, McDonald also touched upon a bold prediction regarding RLUSD, aligning with an earlier statement by Ripple’s CEO.

During a Bloomberg interview, shortly after the SEC abandoned its appeal in the Ripple case, Garlinghouse said he expects RLUSD to be one of the top five stablecoins by year-end and that the overall stablecoin market would grow dramatically.

Earlier this month, in a conversation with Blockworks, Garlinghouse shared his perspective on the promising outlook for Ripple’s stablecoin, expressed in response to a question about his hopes for the future of the blockchain and payments firm.