Ripple’s US dollar-pegged stablecoin, Ripple USD (RLUSD), has received a significant boost by integrating with Transak, a major cryptocurrency payments platform.
Transak has officially integrated support for the Ripple USD stablecoin, enabling its 8.3 million users to purchase RLUSD using multiple fiat currencies, the company announced in a statement shared with Cointelegraph on Wednesday.
“We worked closely with the Ripple team to understand how RLUSD could benefit from wider distribution across Transak’s global network — spanning more than 450 wallets, DApps [decentralized apps] and exchanges,” said Transak’s head of marketing, Harshit Gangwar.
Transak integration brings a major upgrade to RLUSD operations worldwide amid the stablecoin reaching a $500 million market capitalization for the first time.
RLUSD available in 64 markets on Transak
RLUSD is immediately available across all 64 countries that Transak supports for on-ramping, Gangwar told Cointelegraph.
The supported jurisdictions include key markets including the United States, the United Kingdom and the European Union. The integration has been in the works for about three months to ensure regulatory alignment across markets, he added.
In addition to supporting at least 450 crypto-native services like MetaMask, Trust Wallet, Ledger, Coinbase Wallet, Uniswap and Phantom, Transak will enable a wide range of payment methods for RLUSD, Gangwar said:
“It can be purchased using the full range of fiat payment methods we support — Apple Pay, Google Pay, Visa and Mastercard, SEPA in the EU, and wire transfers in the US.”
Fiat off-ramp support pending
While rolling out fiat RLUSD on-ramps — or multiple methods of buying the stablecoin — Transak is yet to introduce off-ramps, which would enable holders to sell RLUSD for fiat money.
“We plan to enable RLUSD off-ramps later in 2025 as more use cases emerge beyond just on-ramping into DApps — especially around remittances and cross-border payments,” Gangwar told Cointelegraph.
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Transak already supports off-ramping to at least 40 other crypto assets, including Bitcoin (BTC), Ether (ETH), Tether’s USDt (USDT) and Circle’s USDC (USDC).
RLUSD’s integration on Transak highlights its growing retail use cases, despite originally being purpose-built for enterprise utility.
RLUSD chooses BNY Mellon for custody as market cap reaches $500 million
The news came on the same day Ripple officially announced its selection of BNY Mellon as the primary custodian of RLUSD reserves.
“As primary custodian for RLUSD, we’re proud to support the growth of digital assets by providing a differentiated platform, designed to meet the evolving needs of institutions in the digital assets ecosystem,” said Emily Portney, global head of asset servicing at BNY.
RLUSD’s growing adoption comes against a background of the stablecoin reaching a $500 million market cap for the first time since it debuted trading less than seven months ago.
According to data from CoinGecko, RLUSD’s market cap has increased by nearly $200 million since the beginning of June, marking a massive 62% surge.
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