Bybit Lists Ripple's RLUSD Stablecoin, Expanding Trading Options
Bybit, a leading cryptocurrency exchange, has officially listed Ripple's USD-backed stablecoin, RLUSD, on its platform. This move signifies a growing acceptance of RLUSD and further bridges the gap between traditional finance (TradFi) and decentralized finance (DeFi).
RLUSD Trading Pairs Now Available on Bybit
The listing on Bybit expands the availability of RLUSD to a broader audience of traders and institutional investors. Bybit now supports multiple trading pairs for RLUSD, allowing users to trade it against major cryptocurrencies and fiat currencies.
- RLUSD/USDT
- RLUSD/BTC
- RLUSD/ETH
- RLUSD/XRP
- RLUSD/MNT
Deposits and withdrawals of RLUSD are supported on both the Ethereum (ETH) blockchain and the XRP Ledger (XRPL), providing flexibility for users.
RLUSD's Rapid Growth and Adoption
Since its launch in December 2024, RLUSD has experienced significant growth, quickly becoming a notable player in the stablecoin market. According to CoinMarketCap data, RLUSD ranks among the top cryptocurrencies with a substantial market capitalization of approximately $741 million.
Other major exchanges like Bullish, Kraken, Bitstamp, and Gemini have also listed RLUSD, indicating a growing demand for this stablecoin. Notably, the XRP/RLUSD pair on Bullish has shown significant trading volume.
Bridging TradFi and DeFi
RLUSD aims to provide seamless transitions between regulated, yield-bearing tokenized funds and liquid crypto assets. Ripple's partnership with Securitize enables investors in tokenized real-world assets, such as BlackRock's BUIDL fund and VanEck's VBILL fund, to redeem tokenized shares directly into RLUSD. This integration signifies the increasing convergence of blockchain technology with established financial institutions.
XRP Open Interest Surges
The increased interest in XRP is further highlighted by the surge in open interest, reaching $1 billion. This milestone reflects growing institutional confidence in XRP, driven by increasing regulatory clarity and its role in the digital payments ecosystem.
Future Outlook
The listing of RLUSD on Bybit and its integration with tokenized funds suggest a promising future for the stablecoin. While it remains to be seen if major exchanges like Binance and Coinbase will list RLUSD, its growing presence in institutional-grade tokenized funds strengthens its position as a significant contender in the stablecoin market.
| Feature | Detail |
|---|---|
| Stablecoin | RLUSD (Ripple USD) |
| Exchange | Bybit |
| Trading Pairs | RLUSD/USDT, RLUSD/BTC, RLUSD/ETH, RLUSD/XRP, RLUSD/MNT |
| Blockchains Supported | Ethereum (ETH), XRP Ledger (XRPL) |
| Market Cap | ~$741 million |
