Bitstamp exchange has listed Ripple’s USD (RLUSD) stablecoin on the Ethereum network.
The RLUSD is designed to maintain a 1:1 value with the US dollar. It is also backed by cash and cash equivalent.
Bitstamp is just the beginning. In an interview with Bloomberg, Ripple’s president, Monica Long said she expected the stablecoin to be listed on major exchanges “imminently.” She said Ripple is working hard to make RLUSD available on more platforms and that there will be more news coming.
Ripple launched the RLUSD stablecoin on December 17, 2024, after getting approval from the New York Department of Financial Services. At that time, Ripple’s CEO, Brad Garlinghouse, said that as U.S. regulations become clearer, stablecoins like RLUSD will be used more widely.
Aside from Bitstamp, RLUSD is already available on exchanges like Archax, B2C2, Bitso, and Uphold. Ripple is also planning to add it to platforms like Flowdesk and Zero Hash soon.
Ripple has also teamed up with Chainlink to bring RLUSD to decentralized finance (DeFi) users, expanding its presence in the crypto world.
Monica Long also shared that she believes XRP, Ripple’s main token, will soon be added to a U.S. exchange-traded fund (ETF), following Bitcoin and Ether ETFs.
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