Ripple president Monica Long announced in a recent interview that the company's Ripple USD (RLUSD) stablecoin is expected to be listed on more major crypto exchanges "imminently."
Ripple president Monica Long announced in a recent interview that the company's Ripple USD (RLUSD) stablecoin is expected to be listed on more major crypto exchanges "imminently."
Long emphasized Ripple's commitment to enhancing the distribution and availability of RLUSD, though she refrained from specifying which exchanges would be involved.
Launched on December 17, 2024, RLUSD is pegged 1:1 to the U.S. dollar and currently has a market capitalization of $71.8 million. Presently, RLUSD can be traded on platforms such as Bitso, MoonPay, CoinMina, Bullish, and Mercado Bitcoin, among others. Notably, over 76% of RLUSD's trading volume occurs on Bullish, primarily through two trading pairs: RLUSD/USD Coin and XRP/RLUSD.
The decentralized exchange Sologenic also facilitates RLUSD trading, accounting for a smaller portion of the market.
Long attributed the growing demand for RLUSD to Ripple's expanding payments business, which she reported has doubled in the past year.
She expressed optimism about the broader stablecoin market, which has increased by 55% since last year, reaching a total value of $206.2 billion as of recent data from DefiLlama.
In addition to RLUSD developments, Long suggested that XRP could soon receive approval for its own exchange-traded fund (ETF), following the anticipated approvals of similar products for Bitcoin and Ethereum. Various companies have already submitted filings to the U.S. Securities and Exchange Commission for XRP ETFs.
To further enhance RLUSD’s functionality, Ripple has partnered with Chainlink to incorporate price feeds for RLUSD across both Ethereum and the XRP Ledger.
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