Ripple’s RLUSD Gains Momentum with Additional Exchange Listing
Having satisfied the market conditions for listing in the United States crypto market space in December 2024, Ripple’s RLUSD stablecoin has been gaining traction, evidenced by its debut on several exchanges. According to a January 29 press release, Margex, a Seychelles-based trading platform, announced that it has onboarded the stablecoin. The trading platform wrote: “Margex now supports RLUSD alongside other stablecoin options, such as USDT, offering users access to reliable and efficient trading solutions.” Still, in the publicized document, the exchange noted that users will enjoy unique benefits from the stablecoin listing. Some of the purported features users will enjoy include fast and secure payments across nations. Margex added that RLUSD will offer customers stable value to facilitate trades with other crypto assets. Other potential benefits entail streamlining the payment system by offering users cost-effective options. Notably, RLUSD inclusion also provides Margex customers a viable option that could serve as a shield against the highly unstable crypto market. It is worth noting that the above benefits stem from the RLUSD 1:1 equivalent with the US dollars. In addition, backing from entities like government bonds, dollar deposits, and cash equivalents has made the RLUSD stand out among its peers. Hence, it should be unsurprising that trading platforms are already embracing the stablecoin despite existing for barely two months. Ripple Unveils its RLUSD Reserve Report In other related news, Ripple has unveiled its RLUSD reserves report for the periods between December 20, 2024 and December 31, 2025. Within the specified period, the stablecoin outstanding supply grew from 72,300,301 to 77,208,201. Expectedly, the market value of the reserves also increased from $78,212,154 to $83,214,671. Notably, the variables that amounted to the reserves market valuation were the total US treasury bills, government money market funds, cash deposits held at the US-regulated financial institutions, and accrued interests. The treasury bills increased from $27,561,764 to $30,095,603; money market funds spiked from $27,544,644 to $30,119,460. On the contrary, cash deposits dropped from $24,051,803 to $22,978,696. Similarly, accrued interests depreciated from $53,943 to $20,912.
