Ripple's RLUSD stablecoin has achieved a $1 billion market cap in less than a year since its launch on December 17, 2024. The stablecoin is fully backed by cash and equivalents held at BNY Mellon and undergoes audits by Deloitte. RLUSD is currently utilized for fund settlements with major financial entities such as BlackRock and VanEck. Ripple plans to extend the token's reach to Ethereum layer-two networks, including Base and Optimism, via Wormhole to enhance cross-chain liquidity and market performance.