Ripple introduced RLUSD in December, branding it as a top-tier option for businesses using its XRP XRP/USD Ledger platform.

Ripple launched RLUSD on Dec. 17 as a stablecoin pegged 1:1 to the United States dollar. At the time of publication, the stablecoin boasts a market cap of $71.8 million, according to CoinGecko.

RLUSD is backed 1:1 by the U.S. dollar, meaning the company has promised to hold an equivalent sum of dollars in a reserve to collateralize each stablecoin that it issues. McDonald says that RLUSD ...