TLDR
- Bybit’s listing of RLUSD introduces multiple trading pairs across major cryptocurrencies.
- Ripple’s RLUSD stablecoin has gained significant adoption with a market cap of $741M.
- RLUSD now supports both the Ethereum network and XRP Ledger for seamless transactions.
- BlackRock and VanEck’s tokenized funds integrate RLUSD, increasing its financial adoption.
Bybit, one of the leading cryptocurrency exchanges, has officially listed Ripple’s RLUSD stablecoin for spot trading. This move comes as the stablecoin continues to gain traction in the crypto market. Bybit has introduced several trading pairs for RLUSD against major cryptocurrencies like USDT, Bitcoin, Ethereum, XRP, and MNT. However, the availability of these pairs may vary depending on jurisdictional regulations.
Expansion of RLUSD’s Availability
This listing on Bybit is part of a broader trend of RLUSD’s increasing adoption across multiple platforms. Already available on exchanges such as Bullish, Uphld, Bitstamp, and Bitso, RLUSD’s integration into the crypto space has been accelerating. The stablecoin, which currently holds a market cap of $741 million, ranks as the 94th largest cryptocurrency. It has also seen integration with financial giants like BlackRock and VanEck’s tokenized funds, further expanding its reach.
Ripple’s RLUSD stablecoin is now supported on both the Ethereum network and the XRP Ledger (XRPL), the only two networks that currently offer native support for the token. Bybit’s decision to list RLUSD underscores the growing demand for such stablecoins across various blockchain ecosystems.
RLUSD’s Growing Partnerships and Integrations
In addition to Bybit’s listing, RLUSD’s adoption has been boosted by key partnerships. Ripple and Securitize recently joined forces to enable investors to redeem BUIDL and VBILL shares for RLUSD. This collaboration offers an off-ramp for token holders, contributing to the stablecoin’s increasing use case within the broader cryptocurrency market.
The integration of RLUSD into major tokenized funds by BlackRock and VanEck signals the stablecoin’s acceptance within traditional financial systems. This move marks a significant milestone in the stablecoin’s journey toward mainstream adoption. Furthermore, it reflects the increasing convergence of blockchain technology with established financial institutions.
XRP Community Reaction and Predictions
The XRP community has also shown strong support for RLUSD, with many expressing approval of the stablecoin’s growing presence. Notably, XRPL validator Vet highlighted the seamless integration of RLUSD deposit and withdrawal options on the XRP Ledger.
Additionally, Pro-XRP lawyer Bill Morgan pointed out the significance of the RLUSD/XRP trading pair on Bybit. XRP community member Chad Steingraber also predicted that the listing on Bybit would likely prompt more exchanges to adopt RLUSD in the near future.
