The rush for stablecoins is not over, according to the CEO of Ripple (XRP). Stablecoins could reach a market cap of $2 trillion in the coming years, according to Brad Garlinghouse.
Stablecoins are a groundswell, according to Ripple CEO
Many financial institutions, banks, and other listed companies are currently looking into stablecoins. Most of these are representations of fiat currencies on the blockchain, which are experiencing strong growth, with a regulatory framework that has become clearer in the United States.
Ripple CEO Brad Garlinghouse is convinced that stablecoins are just getting started. He shared this very bullish view with CNBC during the announcement of a partnership with BNY Mellon.
Ripple recently applied for a banking license to continue promoting its own stablecoin, the RLUSD. Its CEO therefore has every reason to believe in the explosion of this type of asset.
At this stage, stablecoins represent $261 billion in capitalization. This has exploded in recent years. To illustrate this growth, just look at the market capitalization of Tether’s USDT, currently the largest stablecoin. Reaching only $11.8 billion in July 2020, it skyrocketed to $158 billion in July 2025:
RLUSD, a fierce competitor
At this stage, Ripple’s RLUSD is the 16th most capitalized stablecoin, in an ecosystem now saturated with dollar-based cryptocurrencies. However, Brad Garlinghouse believes that their growth will continue, reaching $2 trillion:
Many people believe that [capitalization] will reach $1 trillion to $2 trillion in a few years.
The Ripple CEO emphasized that the company joined the movement because it was already using stablecoins for payments with its institutional customers. Its RLUSD, launched at the end of 2024, reached $500 million for the first time on Wednesday.
