TLDR
- Ripple’s RLUSD stablecoin reaches $789 million market cap, ranking #90 on CoinMarketCap
- Bybit becomes latest major exchange to list RLUSD, joining Kraken, Bitstamp, and Gemini
- RLUSD serves as redemption layer for BlackRock’s BUIDL and VanEck’s VBILL tokenized funds
- XRP open interest surged to $1 billion following Bybit listing announcement
- RLUSD maintains 0.01% variance from USD peg, attracting institutional adoption
Ripple’s dollar-backed stablecoin RLUSD has reached a market capitalization of $789 million, securing the #90 position among cryptocurrencies. The stablecoin maintains an almost perfect USD peg with just 0.01% variance, drawing institutional interest for high-value settlements.
RLUSD is changing everything for the XRP Ledger. What started as Ripple's answer to stablecoin independence has become the rocket fuel for institutional adoption. Here's what the XRPL + RLUSD is doing to transform global finance.
1/16🧵— Max Avery (@realMaxAvery) September 27, 2025
Bybit became the latest major centralized exchange to list RLUSD on September 28, 2025. The exchange now supports trading pairs including RLUSD/USDT, RLUSD/ETH, RLUSD/BTC, RLUSD/MNT, and RLUSD/XRP across Ethereum and XRP Ledger networks.
📣 $RLUSD is officially listed on BybitSpot with @Ripple!
Available trading pairs: RLUSD/USDT, BTC/RLUSD, ETH/RLUSD, XRP/RLUSD, MNT/RLUSD:
Availability is dependent on Jurisdiction.
— Bybit (@Bybit_Official) September 26, 2025
The Bybit listing triggered immediate market activity, with XRP open interest jumping to $1 billion within hours. This surge reflects growing institutional and retail demand for RLUSD-based trading and settlement solutions.
RLUSD joins other major exchanges including Kraken, Bitstamp, and Gemini, which added the stablecoin in May 2025. Margex was among the first exchanges to support RLUSD immediately after its launch in late 2024, offering trading pairs from January 29, 2025.
Institutional Partnerships Drive Adoption
Ripple has expanded RLUSD beyond basic stablecoin functionality through strategic partnerships with major financial firms. The company collaborated with Securitize to make RLUSD the redemption layer for BlackRock’s BUIDL and VanEck’s VBILL tokenized funds.
This integration potentially channels trillions of dollars in assets through Ripple’s stablecoin infrastructure. RLUSD now serves as the backbone for Ripple’s On-Demand Liquidity payments, enabling direct USD streams for cross-border transactions.
The stablecoin includes clawback functionality, allowing managed freezes during regulatory situations. This feature addresses institutional concerns about compliance and risk management in digital asset operations.
RLUSD’s New York Department of Financial Services compliance provides regulatory assurance for enterprise-level settlements. This certification becomes increasingly important as regulatory oversight of digital assets intensifies across jurisdictions.
XRP Ledger DeFi Integration
RLUSD is positioning the XRP Ledger as a comprehensive DeFi platform through new technical developments. The introduction of an EVM sidechain allows Ethereum applications to access XRPL’s low-cost, high-speed infrastructure while maintaining access to RLUSD’s institutional liquidity.
This dual-chain approach attracts developers seeking to combine DeFi flexibility with institutional-grade stability. The integration creates new opportunities for decentralized applications requiring both retail accessibility and enterprise-level reliability.
XRP-related exchange-traded funds are gaining momentum, with capital flowing into leveraged and spot offerings. Companies like Hidden Road are combining RLUSD with XRP to provide seamless on- and off-ramps for institutional clients.
The stablecoin’s role extends to Ripple’s broader financial services vision, connecting lending, brokerage, payments, and banking services. RLUSD availability varies across jurisdictions due to different regulatory restrictions, affecting trading pair accessibility on various platforms.
