Ripple Stablecoin RLUSD Gains Traction, President Monica Long Expects to See It on More Platforms "Imminently"

Since its launch on Dec. 17, Ripple stablecoin has gained traction in recent weeks. Major crypto exchange Bitstamp recently announced the addition of Ripple USD (RLUSD) on the Ethereum network to its range of assets.

Over the last 24 hours, 12 transactions involving Ripple’s RLUSD stablecoin have been recorded, according to on-chain data.

The transactions, ranging from 500,000 to 1,000,000 RLUSD each, saw a total of 8,104,394 RLUSD moved across these transactions.

The most recent transaction involved 588,029 RLUSD, which was moved between two unknown wallets.

A community account on X tracks the minting, redemption and transfer of Ripple's RLUSD, reporting transactions involving the stablecoin within the last 24 hours.

According to the tracker, 588,029 #RLUSD transferred from unknown wallet to unknown wallet.

Launched on Dec. 17, Ripple's stablecoin has seen major developments recently.

As previously reported by Finbold, Bitstamp announced the addition of Ripple USD (RLUSD) on the Ethereum network to its lineup of assets.

The move comes as part of the institutional-grade financial use cases that RLUSD is intended for, including payments and tokenization.

Several trading pairs have been added to the Bitstamp platform, including RLUSD/Euro EUR, RLUSD/USD Dollar, RLUSD/USDT, RLUSD/Bitcoin BTC, RLUSD/Ethereum ETH and RLUSD/XRP.

Moreover, Ripple President Monica Long hinted at expecting to see RLUSD on more platforms "imminently" and shared her anticipation of an XRP ETF soon.

In a recent tweet, Long highlighted the stablecoin market's expected exponential growth this year, with use cases like on/off ramps, access to USD and enterprise cross-border payments set to strengthen, aided by complementary assets like XRP.

This week, Ripple announced RLUSD's adoption of the Chainlink standard for verifiable data to fuel DeFi adoption with real-time, secure pricing data.