Ripple USD (RLUSD) Stablecoin Gets Listed on Major Exchange

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As a seasoned researcher with a penchant for cryptocurrencies and a knack for following regulatory approvals, I find the recent addition of Ripple USD (RLUSD) stablecoin by Bullish, an institutional cryptocurrency exchange backed by none other than Peter Thiel, quite intriguing.

Institutional cryptocurrency exchange Bullish, which is supported by Peter Thiel, has now made Ripple USD (RLUSD), a stablecoin, available following an official announcement on Tuesday.

Users on the exchange will not be able to trade a combined total of seven markets involving the highly anticipated stablecoin. The specific pairs affected are RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD.

According to U.Today’s report, the highly anticipated stablecoin was launched on December 17, following its initial announcement in April. Shortly after receiving necessary regulatory approval from the New York State Department of Financial Services (NYDFS), Ripple made this stablecoin accessible to the public.

Earlier today, the stablecoin was also listed by Singapore-based exchange  Independent Reserve.

Prior to that, the stablecoin also secured listings on such trading platforms as Bitso and Uphold. 

Based on information from CoinGecko, Right Layer USD (RLUSD) has a market cap of approximately $72.8 million at present, placing it among the top 691 largest cryptocurrencies ranked by market capitalization. Over the last 24 hours, its trading volume was around $2.7 million, which can be considered moderate.

Over the past 24 hours, roughly 1.5 million additional RLUSD tokens were minted by Ripple, according to data provided by the Ripple Stablecoin Tracker account. 

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2024-12-24 18:01