Ripple RLUSD Stablecoin Poised for Major Exchange Listings, Ripple President Confirms

Table of Contents

In a recent interview with Bloomberg, Ripple President Monica Long revealed that the Ripple RLUSD stablecoin is set to expand its reach significantly, and that the firm is actively pursuing additional exchange listings for the new token.

“We are continuing to expand distribution and availability of Ripple dollars on other exchanges. So, I think you can expect to see more availability, more announcements coming soon… imminently,” Long stated. While she did not disclose specific platforms, speculation is rife about potential listings on major exchanges like Coinbase.

Growing Presence Across Platforms

The Ripple RLUSD stablecoin, which launched on Dec. 17, 2024, as a 1:1 USD-pegged crypto, has already secured listings on several platforms, including Bitso, MoonPay, CoinMina, Bullish, Mercado Bitcoin, and more. According to CoinGecko, RLUSD currently boasts a market capitalization of $71.8 million, with over 76% of its trading volume concentrated on the Bullish exchange. The RLUSD/USD Coin (USDC) and XRP/RLUSD trading pairs dominate activity, while decentralized exchange Sologenic handles a smaller share.

https://twitter.com/crypto/status/1876749055566532886

Payments Fuel Ripple RLUSD Stablecoin Demand

Demand for the Ripple RLUSD stablecoin is closely tied to Ripple’s robust payments business, which Long confirmed had doubled in the past year. This growth has positioned RLUSD as a core component of Ripple’s payment solutions.

“Our business doubled within payments last year, and so we see a really strong growth trajectory for our payment solution. And with that, Ripple US dollar will have a premium role,” Long noted.

Also read: The Rise and Impact of Ripple Labs

She further highlighted the anticipated expansion of the stablecoin market: “We think that this year is going to be a big year for crypto overall, and so demand for stablecoins will grow along with that. It’s really the way to on-ramp and off-ramp.”

Stablecoin Market Trends

The stablecoin market has seen substantial growth, with total capitalization increasing by 55% year-over-year to $206.2 billion, according to DefiLlama. The Ripple RLUSD stablecoin is carving out its niche in this competitive landscape, as Ripple aims to capitalize on the growing demand for stablecoins as a bridge between traditional and decentralized finance.

Partnership with Chainlink Enhances RLUSD Utility

To enhance RLUSD’s functionality, Ripple has partnered with Chainlink to integrate price feeds on both Ethereum and the XRP Ledger. This collaboration ensures tamper-proof and accurate pricing data, bolstering RLUSD’s role in decentralized finance (DeFi) applications and mitigating risks such as price manipulation and downtime.

Also read: Ripple Legal Battle: What It Means for XRP in Coming Months

XRP ETF on the Horizon

Monica Long also touched on Ripple’s broader ambitions, indicating that XRP may soon see its own exchange-traded fund (ETF). “I think we will see one very soon […] XRP is likely to be next in line after Bitcoin and ETH,” Long said. Several companies, including WisdomTree and Bitwise, have already filed for XRP ETF approvals, and Long expects the regulatory process to accelerate under the new US administration.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

View all posts