Ripple USD (RLUSD), an enterprise-grade stablecoin pegged to the U.S. dollar, has been introduced on crypto exchange Bitstamp, enhancing the exchange’s cryptocurrency offerings. Bitstamp announced this week that RLUSD is now available on the Ethereum network, backed by Ripple’s decade-long expertise in enterprise financial solutions.
RLUSD is designed for institutional use cases such as payments and tokenization. The following trading pairs are now available globally on Bitstamp: RLUSD/EUR, RLUSD/USD, RLUSD/USDT, RLUSD/BTC, RLUSD/ETH, and RLUSD/XRP. The crypto exchange clarified:
While RLUSD is supported on both the XRP Ledger and Ethereum blockchains, we’re currently listing it on the Ethereum network.
“RLUSD is fully backed by cash and cash equivalents. This backing is intended to allow each RLUSD to be redeemable 1:1 in US dollars,” Bitstamp added. Since its Dec. 17, 2024, launch, RLUSD has gained notable momentum in the cryptocurrency market.
Ripple has emphasized compliance and trust, issuing RLUSD under a New York Trust Charter. The stablecoin offers stability for payments, tokenization, and decentralized finance (defi) opportunities, bridging fiat, crypto, and stablecoins through global partnerships.
RLUSD is also available on the XRP Ledger and is listed on several exchanges, including Uphold, Bitso, Moonpay, Archax, and Coinmena. Ripple President Monica Long recently indicated that RLUSD is expected to be available on additional platforms in the near future. Ripple has also embraced the Chainlink standard to furnish dependable onchain pricing data for its RLUSD stablecoin, to enhance its assimilation into decentralized finance (defi) applications.
The introduction of RLUSD has had a positive impact on XRP prices. Analysts suggest that RLUSD’s integration could enhance XRP’s liquidity and utility, potentially driving further price appreciation. Ripple’s executives, including CEO Brad Garlinghouse, also expect to see XRP exchange-traded funds (ETFs).
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