Ripple RLUSD stablecoin adoption surges 300% among retail users despite enterprise focus

When Ripple launched its RLUSD stablecoin in late 2024, executives positioned it as an enterprise-grade financial tool. However, recent data shows that Ripple RLUSD stablecoin adoption is being driven largely by retail users, challenging the company’s original vision.

With integrations into popular self-custody wallets and payment platforms, RLUSD is emerging as a competitor to mainstream stablecoins like USDC.

According to Robert Kiuru, COO of Xaman wallet, “While RLUSD may have launched with an enterprise-focused narrative due to XRPL’s strengths like speed and cost-efficiency, we’re seeing real traction on the retail side.”

This shift highlights how Ripple RLUSD stablecoin adoption is evolving beyond its initial use case.

Controversy over RLUSD’s enterprise branding

Before its official launch, Ripple CEO Brad Garlinghouse called RLUSD the “gold standard for enterprise-grade stablecoins.” CTO David Schwartz further fueled speculation in September 2024, suggesting that RLUSD would “probably only ever be available directly to institutions.”

Yet, by December 2024, RLUSD was already appearing on retail-friendly platforms like Uphold, Bitso, and MoonPay—without any explicit mention of enterprise exclusivity.

Harshit Gangwar, marketing head at Transak, clarified:

“RLUSD has indeed been designed with enterprise-grade utility in mind, but its issuance and redemption infrastructure supports both institutional and retail accessibility.”

The rapid Ripple RLUSD stablecoin adoption among retail users suggests that market demand, rather than corporate strategy, is shaping its trajectory.

RLUSD vs. USDC: A new stablecoin rivalry emerges

Erbil Karaman, co-founder of Huma Finance, notes that RLUSD now functions like “any general-purpose stablecoin,” directly competing with Circle’s USDC. “What matters isn’t who issues a stablecoin or what it’s initially marketed for; it’s what it actually becomes useful for,” Karaman told journalists.

This shift is evident in RLUSD’s growing $557 million market cap, with 88% of its supply issued on EVM-compatible sidechains. However, 91% of its 34,160 holders are on the XRP Ledger (XRPL), indicating a strong retail presence.

Kiuru explains the discrepancy: “They’re still promoting RLUSD as enterprise-focused due to XRPL’s legacy positioning, but retail usage is a big win.”

The unexpected Ripple RLUSD stablecoin adoption highlights how decentralized finance (DeFi) ecosystems often defy top-down corporate strategies.

Why retail users are embracing RLUSD

Several factors are driving Ripple RLUSD stablecoin adoption among retail traders:

• Lower fees: XRPL’s cost-efficient transactions make RLUSD appealing for small-scale users.

• Wider accessibility: Integrations with wallets like Xaman and services like Transak simplify onboarding.

• Trust in Ripple: Despite regulatory battles, Ripple’s brand recognition lends credibility.

While Ripple hasn’t officially pivoted its messaging, the market is voting with its wallets. As Ripple RLUSD stablecoin adoption grows, the stablecoin could reshape the competitive landscape—proving that utility, not marketing, ultimately determines success.