Ripple”s U.S. dollar-backed stablecoin, RLUSD, has been officially listed on the Binance crypto exchange. Initially, it is trading on the Ethereum network, with integration for the XRP Ledger expected shortly.
Upon launch, Binance will provide trading pairs for XRP/RLUSD and RLUSD/USDT. Additionally, the stablecoin will qualify for portfolio margin, enabling leveraged trading options. According to a press release from Ripple on January 21, Binance also plans to incorporate RLUSD into its Earn products, allowing users to generate yield and broaden the stablecoin”s applications within Binance”s ecosystem.
The strategic aim behind the listing of RLUSD on Binance is to establish the cryptocurrency as an enterprise-grade payment asset, permitting users to function seamlessly across both the XRPL and Ethereum”s smart contract platforms. “This multichain listing ensures greater accessibility for users and institutions, whether they operate natively on XRPL or within the Ethereum ecosystem. For Ripple, it”s a crucial step toward enabling real-world payments, on-chain liquidity, and cross-network interoperability at scale,” stated the Ripple team.
RLUSD is issued under a Limited Purpose Trust Company Charter from the New York Department of Financial Services and is fully backed 1:1 by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents. Furthermore, Ripple has secured conditional approval for an Office of the Comptroller of the Currency (OCC) charter, adding an extra layer of regulatory oversight.
With RLUSD”s market capitalization recently surpassing $1.3 billion, driven by its growing adoption particularly in institutional decentralized finance (DeFi), the anticipated deeper liquidity on exchanges and broadened market presence are expected to position RLUSD as a key infrastructure component for on-chain payments and tokenized finance.
