Available now on its trading platform, Bitstamp has added RLUSD, Ripple‘s USD-denominated stablecoin, to the list of digital assets investors can access. The RLUSD trading pairs available are USD, EUR, BTC, ETH, XRP, and USDT. This interesting addition to Bitstamp’s line of offerings suits retail and institutional traders seeking stability.
RLUSD can be found on the Ethereum network supported by the exchange and represents a safe, fully backed, stable digital currency that can be traded. U.S. dollars and cash equivalents back it with required liquidity and is compliant with legal frameworks. The features of stablecoin are suitable for financial institutions and businesses.
The application of payments, tokenization, and decentralized financial (DeFi) projects were the main purposes for which Ripple designed RLUSD for enterprise-grade applications. Being compatible with Ethereum ensures that RLUSD can be easily plugged into the DeFi ecosystem in liquidity pools and decentralized exchanges, making its wide use in blockchain-related operations easy.
Partnerships to Strengthen RLUSD in DeFi Ecosystem
Chainlink partnered with Ripple to integrate decentralized RLUSD price feeds onto the XRP Ledger and Ethereum networks. Adding to the stablecoin helps make it more reliable because you have actual, timely market data to use to avoid price manipulation. CoupAle, this partnership enables RLUSD to be aligned with DeFi innovations and its market presence.
Ripple has also listed RLUSD for exchange, broadening its presence on various platforms. RLUSD is currently traded on Archax, B2C2, Bitso, and Uphold and is scheduled to be listed on Flowdesk and Zero Hash. These efforts represent Ripple’s efforts to increase stablecoin’s adoption and reach.
Emphasis Trading Volume: 76% on a Bullish exchange, which is a lot of the trade in that asset. Substantial market activity occurs on key trading pairs RLUSD/USDC and XRP/RLUSD. Trading on the XRP/RLUSD pair on decentralized exchange was steady, as the 24-hour trading volume surged past $3.4 million.
According to recent data, RLUSD’s trading volume grew by 2,000% to surpass $611 million and rank no. 4 among stablecoins. RLUSD, which grew 228% in volume over the last 24 hours, is also seeing massive market adoption. The stablecoin’s popularity has grown such that it proves to be a top choice for investors and companies.
Future Prospects for RLUSD
RLUSD’s growth potential indicates the stablecoin is doing very well, backed by Ripple’s strategic efforts to make the crypto more selectable and integrated. With more exchanges listing RLUSD and more partnerships growing, its usefulness in payments, DeFi, and institutional transactions will rise. This development highlights Ripple’s role in driving the blockchain-based solution forward.
The stablecoin is well suited for financial users because it complies with legal standards and is enterprise-focused. As trading volumes increase and adoption rises, RLUSD is set to be a major player among digital assets.
FAQs
What is RLUSD?
RLUSD is Ripple’s USD-denominated stablecoin, fully backed by U.S. dollars and cash equivalents.
Why did Bitstamp list RLUSD?
Bitstamp listed RLUSD to provide investors and businesses with more stable digital asset trading options.
Which trading pairs are available for RLUSD on Bitstamp?
RLUSD trading pairs include USD, EUR, BTC, ETH, XRP, and USDT.
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