Ripple’s RLUSD stablecoin to list ‘imminently’ on more exchanges
Ripple president Monica Long stated that XRP‘s spot ETF clearance is anticipated to come “very soon.”Ripple’s president, Monica Long, anticipates the Ripple USD (RLUSD) stablecoin to be offered on major cryptocurrency exchanges “imminently.”
In an interview with Bloomberg on January 7, Long said that Ripple is actively pursuing additional exchange listings for RLUSD.
“We are continuing to increase the distribution and availability of Ripple currency on other exchanges. Long predicted increased availability and announcements shortly. She failed to provide specifics when asked about RLUSD listings on prominent platforms such as Coinbase.
The Ripple website states that RLUSD is available on Bitso, MoonPay, CoinMina, Bullish, Mercado Bitcoin, B2C2, Keyrock, Archax, Independent Reserve, and JST Digital.
On December 17, Ripple launched RLUSD, a stablecoin linked 1:1 to the US dollar. CoinGecko reported that the stablecoin had a market capitalization of $71.8 million at the time of publication.
Over 76% of RLUSD trading volume is centered on the bullish crypto market, with two key trading pairs: RLUSD/USD Coin (USDC$1.00) and XRP (XRP$2.30/RLUSD).
Meanwhile, the decentralized exchange Sologenic controls a lesser fraction of the market. The XRP/RLUSD pair on Sologenic generated $3.4 million in 24-hour trading activity, accounting for 3.56% of the total.
“Business doubled,” says Ripple president
Demand for RLUSD is mostly driven by Ripple’s payments industry, which Long claims has doubled in the last year.
“Our payments business increased last year, and we believe our payment solution will continue to develop strongly. As a result, the Ripple US dollar will play a more important role,” she stated. Long predicts significant growth for stablecoins.
“We believe that this year will be a significant year for cryptocurrency overall, and that demand for stablecoins will follow suit. “It’s the way to the on and off ramps,” she explained.
According to DefiLlama, the stablecoin market has expanded by 55% year on year to $206.2 billion. USDt ($0.9996) remains the largest stablecoin, accounting for 66% of the market share.
XRP ETF “very soon”
Long anticipates an ETF for XRP shortly. XRP is likely to follow Bitcoin and Ethereum.”
Several organizations have already taken measures to develop an XRP ETF, including WisdomTree, which applied for permission from the US Securities and Exchange Commission on December 2, 2024. Bitwise, Canary Capital, and 21Shares all filed for comparable products. Long stated that with the new US government, ETF application approvals will “accelerate.”
Ripple partners with Chainlink
Ripple teamed with Chainlink on January 7 to combine RLUSD price feeds on Ethereum and the XRP Ledger, thereby increasing its utility. The partnership intends to deliver tamper-proof, accurate pricing data, facilitate DeFi applications, and mitigate risks such as price manipulation and downtime.
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