Ripple's USDC-pegged Stablecoin, RLUSD, Gains New Utility with Support on Aave V3 Ethereum Core Market.

This Aave listing marks another step in RLUSD's steady adoption, now exceeding $293M market cap with $36.12M daily volume signaling rising liquidity.

Ripple’s US dollar-pegged stablecoin, RLUSD, has gained a new utility with support on the Aave V3 Ethereum Core Market, allowing institutional/DeFi users to supply/borrow the token. However, initial pool activity was minimal, with less than 0.01% of the pool utilized, and the listing comes as RLUSD continues to see broader adoption.

On Aave V3 (Ethereum), RLUSD has a 50M supply cap and 5M borrow cap. Initial on-chain data showed only 125 RLUSD supplied (<0.01% utilized), with the reserve/liquidity at ~$125 and its oracle price stable at $1.00. As the pool has low utilization, the deposit APY is currently at 0%.

This Aave integration marks another step in RLUSD’s deployment, which has seen the token exceed a market capitalization of $293 million since its December 2024 launch with a daily volume of $36.12M.

The stablecoin has also been integrated into Ripple’s proprietary payments platform, Ripple Payments, to optimize cross-border flows for enterprise clients.

RLUSD is currently being used in test transactions with providers such as BKK Forex and iSend to streamline cross-border treasury operations. These integrations follow Ripple’s announcement at the beginning of April that RLUSD would become a core part of its enterprise payments infrastructure.

Furthermore, RLUSD has launched on the Kraken cryptocurrency exchange, offering additional access points for institutional and retail traders.

According to Ripple’s SVP of Stablecoins, Jack McDonald, the stablecoin is now being utilized for various collateralized operations in crypto-native and traditional financial markets.

The developments surrounding RLUSD come as the U.S. Congress prepares to vote on a stablecoin-focused regulatory bill.

Additionally, the Trump-supported World Liberty Financial DeFi project has disclosed plans to introduce its USD-pegged token, named the ‘Liberty StableToken.’ This move signals broader competition in the stablecoin segment.