menuIcon
$ 83,973.5
BTC
$ 83,973.5
1.68 %
$ 1,919.91
ETH
$ 1,919.91
1.33 %
$ 0.7389
ADA
$ 0.7389
2.86 %
$ 594.03
BNB
$ 594.03
2.65 %
$ 133.20
SOL
$ 133.20
6.13 %
Sujit Kumar
Dec 25, 2024
by Sujit Kumar

Ripple’s RLUSD Stablecoin Sees Increased Activity with New Listings

Ripple’s RLUSD Stablecoin

Table of contents

  1. Growing Traction Across Platforms
  2. Applications and Use Cases
Ripple’s regulated stablecoin, RLUSD, has witnessed substantial activity over the past 24 hours. According to a tracker monitoring RLUSD transactions, 3,000,000 RLUSD were transferred between unknown wallets following a recent minting operation. The RLUSD Treasury minted 3,404,712 RLUSD, increasing the circulating supply.

This strategic minting and transfer are part of Ripple's broader efforts to enhance RLUSD’s liquidity and utility. These actions may also indicate preparations for wider adoption on more platforms and exchanges.

Growing Traction Across Platforms

Since its launch, RLUSD has quickly gained traction globally. On December 17, the stablecoin debuted on platforms such as Uphold, MoonPay, CoinMENA, Archax, and Bitso. Bullish, a prominent exchange, recently announced the listing of RLUSD, enabling trading pairs like RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, and more.

 

Further solidifying its global presence, RLUSD has entered the Singapore market. Independent Reserve, Ripple’s long-time partner, became the first regulated exchange in Singapore to offer RLUSD, marking a significant milestone for the stablecoin’s adoption in Asia.

Applications and Use Cases

RLUSD is pegged 1:1 with the U.S. dollar and issued natively on the XRP Ledger and Ethereum networks. This dual-chain functionality enables a variety of use cases, including cross-border payments, decentralized banking, and more. Ripple’s ongoing expansion efforts aim to position RLUSD as a key player in the stablecoin ecosystem.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Follow us on: News
Ripple’s RLUSD Stablecoin
Ripple’s RLUSD Stablecoin Sees Increased Activity with New Listings
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Top Picks