Bitstamp Lists Ripple RLUSD Stablecoin On the Ethereum Network: Details
Highlights
- Bitstamp lists Ripple's RLUSD stablecoin on Ethereum, supporting USD, EUR, BTC, ETH, XRP, and USDT trading pairs.
- Ripple RLUSD is backed 1:1 by USD, issued under a New York Trust Charter, ensuring stability and regulatory compliance.
- RLUSD supports payments, tokenization, and DeFi use cases, boosting Ripple's enterprise-grade financial solutions.
Bitstamp has followed various other global exchanges in unveiling support for Ripple’s RLUSD – the enterprise-grade stablecoin supported on the Ethereum network. This addition is a part of Bitstamp’s plan to expand its services and address the needs of investors in search of a reliable digital asset for financial use.
RLUSD Stablecoin Goes Live on Bitstamp
In a recent blog post by Bitstamp, it announced that Ripple USD (RLUSD) is now tradable on the platform. The stablecoin is supported on the Ethereum network and can be traded against six major pairs: USD, EUR, BTC, ETH, XRP, and USDT.
Ripple USD (RLUSD) is a stablecoin backed 1:1 by US dollars and cash equivalents, ensuring consistent value and reliability. Its design aligns with stringent regulatory standards, including issuance under a New York Trust Charter. This backing ensures that RLUSD meets the demands of both individual and institutional users looking for secure financial tools.
This is coming over the recent news that Bitstamp is considering establishing a derivatives exchange on XRP Ledger due to low fees and high-speed transactions. Should this be the case, it will open up the ledger for more usage and potentially bring more usage for XRP in the crypto space.
Enterprise-Grade Features of Ripple RLUSD Stablecoin
Ripple designed RLUSD for enterprise-grade financial applications, tailoring it for payments, tokenization, and decentralized finance (DeFi). RLUSD provides a dependable option for businesses seeking blockchain-powered efficiencies by leveraging Ripple’s expertise in enterprise solutions.
Designed for institutional-grade applications, it offers stability and compliance, making it an ideal choice for payments and tokenization.
Additionally, the stablecoin availability on the Ethereum network enhances its usability within decentralized ecosystems. Developers and users can utilize RLUSD to explore opportunities in DeFi, ranging from liquidity pools to decentralized exchanges. This positioning makes RLUSD a key entry point for those looking to integrate blockchain into traditional financial systems.
Stablecoin Trust and Compliance Features
Moreover, one of the distinguishing features of Ripple RLUSD is its regulatory compliance. Issued under a New York Trust Charter, RLUSD adheres to high standards of transparency and accountability. This charter provides users with confidence in the coin’s stability and trustworthiness.
Bitstamp has highlighted that RLUSD global reach is boosted through partnerships, offering seamless on/off ramps between fiat, cryptocurrencies, and stablecoins. This functionality will facilitate cross-border transactions and streamline the adoption of digital assets.
Amid the growing Ripple ecosystem and its recent RLUSD stablecoin launch, Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty met Donald Trump at Mar-a-Lago. The meeting marks a pivotal start to 2025 as Ripple continues to expand its offerings and strengthen its market presence.
- Pi Coin Tanks As Pi Network Allegedly Misused $20 Million Funding
- Experts Say Bitcoin CME Gap Brings Short Term Uncertainty Before Uptober Rally Begins
- MrBeast Expands Holdings in ASTER Token as Revenue Outpaces Hyperliquid by 10x
- Why Is Canary Litecoin ETF Approval by US SEC This Week Crucial for Crypto Market?
- LBank Signs Sponsorship Deal with Argentine National Team, Launches $100M Bonus
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
