Ripple's new stablecoin RLUSD just smashed through $500 million in market value less than seven months after launch. At the same time, U.S. lawmakers announced plans for a "Crypto Week" starting July 14 to vote on major new digital asset laws. These two big developments could reshape crypto markets for everyday investors.
RLUSD Stablecoin's Rapid Growth
Ripple's dollar-pegged token now ranks among the top 20 stablecoins worldwide. Its circulating supply jumped to over 500 million tokens this week, backed by cash and U.S. Treasury holdings. This growth comes after Swiss bank AMINA became the first bank to offer RLUSD trading and custody services. London's OpenPayd also partnered with Ripple to use RLUSD for cross-border payments.
Market experts see three reasons for RLUSD's quick adoption:
- Ripple's application for a U.S. national banking license, which would put RLUSD under federal oversight
- New smart contract capabilities on Ripple's XRP Ledger that let developers build apps using RLUSD
- Growing institutional demand for stablecoins that settle faster than traditional banking
Ripple CEO Brad Garlinghouse told the U.S. Senate that clear regulations would "catalyze a new era of U.S. competitiveness" in crypto. His testimony came as RLUSD hit $26 million in daily trading volume.
Congress Prepares Major Crypto Votes
Next week, the House of Representatives will hold "Crypto Week" with votes on three key bills:
| Bill Name | Purpose | Status |
|---|---|---|
| GENIUS Act | Create federal rules for stablecoin issuers | Passed Senate; House vote next |
| CLARITY Act | Regulate crypto markets and exchanges | House committee approved |
| Anti-CBDC Act | Block U.S. central bank digital currency | House vote scheduled |
Source: U.S. House Committee announcements
In a surprise move, House leaders decided to support the Senate's GENIUS Act instead of their own stablecoin bill. This follows pressure from the Trump administration to pass crypto laws quickly. The GENIUS Act would require stablecoin issuers to:
- Hold full cash reserves
- Complete monthly audits
- Follow anti-money laundering rules
House Speaker Mike Johnson stated these bills aim to make America "the crypto capital of the world" while protecting financial privacy.
What This Means for Crypto Investors
The RLUSD growth and upcoming crypto votes are connected. Regulatory clarity could help stablecoins like RLUSD gain more trust and usage. XRP supporters especially hope Ripple's banking license application gets approved, which might let the company access Federal Reserve payment systems.
Market analysts suggest watching these key dates:
- July 14-18: House votes during "Crypto Week"
- September 30: Senate deadline for market structure bill
- Early 2026: Projected timeline for RLUSD to hit $1 billion market cap
Major financial firms are already preparing. Bank of America confirmed talks about stablecoin projects, while companies like Shopify now accept stablecoin payments through Coinbase and Stripe.
As regulations take shape, events this month could determine whether RLUSD challenges giants like Tether (USDT) and Circle (USDC), and how easily Americans can use crypto for everyday transactions.
