Ripple's Rlusd Is Now On Bitstamp, With More Exchange Listings Expected In Coming Days

Key Takeaways

Leading European cryptocurrency exchange Bitstamp has officially listed Ripple's RLUSD stablecoin on its platform. The token, designed to hold a 1:1 value with the US dollar and backed by cash and cash equivalents, was approved by US regulators in December 2024.

RLUSD is available to trade on Bitstamp in six pairs: RLUSD/EUR, RLSUD/USDT, RLUSD/USD, RLSUD/BTC, RLUSD/ETH, and RLUSD/XRP.

Speaking to Bloomberg, Monica Long, the president of Ripple Labs, said she expects the stablecoin to be listed on major exchanges "imminently" and the company is working hard to make RLUSD available on more crypto platforms.

Ripple launched the RLUSD coin on December 17 after gaining key regulatory approval from the New York Department of Financial Services NYDFS. At the time, Ripple Labs CEO Brad Garlinghouse said that stablecoins akin to RLUSD will be widely used in the States as federal crypto regulation becomes clearer under the incoming Trump administration.

While RLUSD is yet to be listed on Binance and Coinbase - two of the largest crypto trading platforms in the world, it is already available on exchanges such as Archaz, B2C2, MoonPay, Bitso, and Uphold. Ripple plans to add the stablecoin to Flowdesk and Zero Hash in the coming days.

Ripple recently minted 1.79 million RLUSD on Ethereum, as per a report by the Ripple Stablecoin Tracker. This mint was part of the company's strategy to establish a foothold for its dollar-backed cryptocurrency in the stablecoin market. RLUSD is issued on both the Ethereum and XRP Ledger blockchains, ensuring that it is versatile and easily accessible for users.

According to reports, approximately 6.7 million RLUSD were transferred by the company to various platforms, with Bitstamp receiving 1.5 million tokens. While Ripple took hold of 500,000 RLUSD, the remaining amount was transferred by unidentified whales to unknown wallets. This signals a growing interest in the stablecoin's utility.

So far, Ripple has issued nearly 80 million worth of RLUSD, which are backed by USD, cash, and cash equivalents reserves of approximately 83 million. The company plans to release its first attestation report for RLUSD later this month, which is being carried out to build trust within the crypto community and ensure its transparency in managing the stablecoin.

This report, set to be verified by independent auditors, will detail the composition of the assets backing RLUSD, showcasing Ripple's commitment to accountability in the market.

Despite its modest 53 million market cap, RLUSD's trading volume surged by 2,000 to hit a peak of 611 million. This rapid growth positioned it as the fourth most-traded stablecoin in the world.

Earlier this week, Ripple entered into a partnership with the decentralized oracle network Chainlink LINK to utilize its technology to obtain pricing data on Ethereum and XRP Ledger and enhance RLUSD's prospects across Decentralized Finance DeFi payments, trading, and lending platforms by offering real-time, tamper-proof market data.

The Chainlink integration is guaranteed to reduce the risk of price manipulation and outages for the stablecoin, giving developers precise and consistent pricing information that will allow them to create more dependable and resilient Decentralized Applications DApps with RLUSD.

Circle's USD Coin USDC - the world's second-largest stablecoin, is likely to be RLUSD's main rival as both issuers prioritize regulatory compliance . However, Ripple is widely expected to come out on top in this race as Circle does not have its own blockchain.

RLUSD still has to go a long way to hit the current market cap of Tether USD USDT, which is the world's largest stablecoin with a valuation exceeding 140 billion. USDT is also considered to be the most traded cryptocurrency as it is a trading pair to almost every token.

Meanwhile, Ripple's Monica Long speculated that an XRP-backed spot Exchange-Traded Fund ETF might be the next one to be approved following the success of Bitcoin BTC and Ethereum ETH investment products.

Asset management firms Canary Capital, 21Shares, and Bitwise are seeking approval for their spot Ripple ETF after submitting proposals with the U.S. Securities and Exchange SEC in October.

As per Polymarket predictions, there is a 71 chance for spot XRP ETFs to be approved this year, with the company confident that the Trump administration might accelerate the process.

Garlinghouse highlighted the substantial growth in XRP's price performance since Trump's elec