Bitstamp Adds Ripple’s RLUSD Stablecoin to Ethereum Network
Bitstamp, one of the world’s longest-standing cryptocurrency exchanges, has announced the listing of Ripple USD (RLUSD), a stablecoin developed by Ripple. The new digital asset is now available for trading on the Ethereum network, with pairs including RLUSD/Euro (EUR), RLUSD/US Dollar (USD), RLUSD/Tether (USDT), RLUSD/Bitcoin (BTC), RLUSD/Ethereum (ETH), and RLUSD/XRP. RLUSD is designed to maintain a 1:1 peg with the U.S. dollar, fully backed by cash and cash equivalents. Issued under a New York Trust Charter, it aims to provide stability and trust for institutional-grade financial use cases, such as payments and tokenization. Ripple emphasizes that RLUSD enables developers and users to engage with decentralized finance (DeFi) on the XRP Ledger, broadening access to various financial applications. The introduction of RLUSD comes amid Ripple’s efforts to expand its influence in the digital asset market. By offering a stablecoin with regulatory backing and enterprise-grade trust, Ripple positions RLUSD as a competitor to established stablecoins like Tether (USDT) and USD Coin (USDC). The collaboration with Bitstamp facilitates global reach, providing users with seamless on- and off-ramps between fiat currencies, cryptocurrencies, and stablecoins. Further Listings Could Play Out in the Future In addition to Bitstamp, RLUSD is expected to be listed on other exchanges, including Uphold, Bitso, MoonPay, Archax, and CoinMENA, with further listings anticipated on platforms such as Bullish, Mercado Bitcoin, Independent Reserve, and Zero Hash in the coming weeks. As the cryptocurrency market continues to evolve, the introduction of RLUSD reflects Ripple’s commitment to offering compliant and reliable digital assets tailored for institutional use, potentially influencing the adoption of stablecoins in mainstream financial transactions.
