Ripple's U.S. dollar-pegged stablecoin, RLUSD, has been gaining momentum since its launch in December 2024. Initially available on platforms like Uphold, Bitso, MoonPay, Archax, and CoinMENA, RLUSD has expanded its reach to include exchanges such as Bitstamp and Bullish .
Ripple's leadership has expressed intentions to list RLUSD on major exchanges like Coinbase and Binance. Monica Long, Ripple's president, mentioned plans to "imminently" expand RLUSD's availability . Jack McDonald, Senior Vice President of Stablecoins at Ripple, highlighted that regulatory approvals, such as the one from the New York Department of Financial Services (NYDFS), could facilitate listings on larger platforms .
As of now, RLUSD maintains a 1:1 peg with the U.S. dollar and is backed by cash and cash equivalents . The stablecoin has seen significant trading activity, particularly on the Bullish exchange, and is gaining traction on the XRP Ledger due to lower transaction fees compared to Ethereum .
With ongoing efforts to expand RLUSD's presence and the potential for listings on major exchanges, Ripple aims to solidify RLUSD's position in the stablecoin market.
