|
Getting your Trinity Audio player ready...
|
- Bybit now supports RLUSD deposits and withdrawals on ETH and XRPL.
- Multiple trading pairs enhance RLUSD’s usability for traders.
- Listing may drive adoption on top exchanges like Binance and Coinbase.
Stay ahead with real-time updates and insights—Join our Telegram channel!
Cryptocurrency exchange Bybit has officially listed Ripple’s USD-backed stablecoin, RLUSD, marking a significant step in connecting traditional finance (TradFi) with decentralized finance (DeFi). The addition provides traders and institutions seamless access to a stable digital asset that can move easily between tokenized funds and liquid crypto markets.
Bybit now supports RLUSD deposits and withdrawals on both the Ethereum (ETH) network and the XRP Ledger (XRPL). This dual-chain support opens multiple avenues for users seeking stability and liquidity in crypto trading.
Multiple Trading Pairs for Broader Utility
The exchange offers a variety of RLUSD trading pairs, including RLUSD/USDT, RLUSD/ETH, RLUSD/BTC, RLUSD/MNT, and RLUSD/XRP. Availability, however, varies depending on local regulatory frameworks. These pairings enhance RLUSD’s usability across diverse trading strategies and market positions, appealing to both retail and institutional traders.
This move also strengthens RLUSD’s position as a bridge between fiat-backed assets and high-volatility cryptocurrencies, offering investors a more controlled entry point into the broader crypto ecosystem.
Rapid Growth and Market Adoption
Since its launch in December 2024, RLUSD has quickly gained traction. CoinMarketCap ranks it as the 90th largest cryptocurrency, with a market capitalization of $789.45 million. The stablecoin has already been listed on major exchanges, including Gemini, Kraken, Bitstamp, Bullish, and Margex, reflecting widespread adoption and growing trust among users.
Also Read: Ripple Teams Up with DBS & Franklin Templeton to Launch Tokenized Fund Trading with RLUSD
The listing on Bybit is expected to boost RLUSD’s trading volume and could encourage top-tier exchanges like Binance and Coinbase to add the stablecoin in the near future. Bybit’s recognition underscores RLUSD’s emerging influence in both DeFi and TradFi integration.
Bybit’s support for RLUSD reinforces the stablecoin’s growing importance in crypto markets. With multiple trading pairs and dual-chain support, RLUSD is carving a path as a reliable, USD-backed bridge between regulated finance and the decentralized crypto world.
Stay ahead with real-time updates and insights—Join our Telegram channel!
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
