YEREVAN (CoinChapter.com) — Ripple’s RLUSD stablecoin will soon become available on more major cryptocurrency exchanges. Ripple President Monica Long announced this in a Jan. 7 interview with Bloomberg. She stated that new exchange listings are expected “imminently.”
“We are continuing to expand distribution and availability of Ripple dollars on other exchanges,”
Long said. However, she did not specify whether platforms like Coinbase would include RLUSD in their offerings.
Currently, RLUSD stablecoin is listed on Bitso, MoonPay, CoinMina, Bullish, Mercado Bitcoin, B2C2, Keyrock, Archax, Independent Reserve, and JST Digital, as listed on Ripple’s official website.
RLUSD’s Current Market Performance
Ripple launched RLUSD on Dec. 17, pegging it 1:1 to the United States dollar. The stablecoin currently holds a $71.8 million market cap, according to CoinGecko.
A significant portion of its trading activity occurs on the Bullish crypto exchange, which handles over 76% of RLUSD’s trading volume. Its primary trading pairs on Bullish are RLUSD/USD Coin (USDC) and XRP/RLUSD.
Meanwhile, decentralized exchange Sologenic contributes a smaller share, with its XRP/RLUSD pair recording $3.4 million in 24-hour trading volume, representing 3.56% of the total.
Ripple Payments Fuel RLUSD Growth
Ripple’s payments business has seen remarkable growth, driving demand for RLUSD. According to Long, Ripple’s payments operations doubled in size last year.
“Our business doubled within payments last year, and so we see a really strong growth trajectory for our payment solution,”
Long said. She noted that RLUSD plays an essential role in facilitating Ripple’s payment ecosystem.
The stablecoin market as a whole has grown 55% year-over-year, reaching a total value of $206.2 billion, as per data from DefiLlama. Ripple aims to meet the rising demand for stablecoins, which Long described as vital for on-ramp and off-ramp solutions.
XRP ETF Likely on the Horizon
Ripple’s president also indicated that an XRP exchange-traded fund (ETF) could receive approval soon.
“I think we will see one very soon […] XRP is likely to be next in line after Bitcoin and ETH,”
she said.
Applications for XRP ETFs have already been filed by companies like WisdomTree, Bitwise, Canary Capital, and 21Shares. Notably, WisdomTree submitted its application to the U.S. Securities and Exchange Commission (SEC) on Dec. 2, 2024.
Ripple Collaborates with Chainlink
Ripple recently partnered with Chainlink to enhance RLUSD’s utility. The collaboration, announced on Jan. 7, integrates price feeds for RLUSD on Ethereum and the XRP Ledger.
This partnership aims to provide tamper-proof and accurate pricing data while supporting decentralized finance (DeFi) applications. It is also expected to help mitigate risks like price manipulation and downtime, making RLUSD more reliable for users.
