NewsletterBullish Lists RLUSD Stablecoin, Here Are Trading Pairs
Highlights
- Bullish has listed RLUSD stablecoin amid global push
- The stablecoin has been expanding at a very fast pace
- The adoption of the stablecoin is growing with holders now topping 6,900
Centralized crypto trading platform Bullish has announced the listing of Ripple USD (RLUSD) stablecoin. Despite its global operations, the trading platform said only users in supported regions can trade the new stablecoin. Per its products listing page, the crypto exchange said RLUSD stablecoin is not available to investors in the United Kingdom unless they meet some specific criteria.
RLUSD Stablecoin Pairs on Bullish
Bullish has a rather lean count of supported assets. The Ripple Labs issued stablecoin is the 4th asset it has listed this month after MOCA, Ethereum Classic (ETC), and EDU. The listed RLUSD stablecoin is the ERC-20 version and comes with a total of 7 pairs.
Per the product listing page, these pairs include RLUSD/USDC, BTC/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD and SOL/RLUSD respectively. It is worth noting that of all the products listed since early January this year, the Ripple stablecoin has the highest number of assets paired.
📣 We’re pleased to announce that @Ripple’s regulated stablecoin #RLUSD is now available on #Bullish.
Starting today, eligible regions can trade the following markets:
◾ $RLUSD/USDC
◾ $BTC/RLUSD
◾ $XRP/RLUSD
◾ $ETH/RLUSD
◾ $USD/RLUSD
◾ $EUR/RLUSD
◾ $SOL/RLUSD— Bullish (@Bullish) December 24, 2024
Ripple labs launched the stablecoin earlier this month with initial listing on Bitso, Uphold and other global trading platforms. Earlier today, Singapore’s Independent Reserve listed the token, the first of its move into the country. The digital currency is regulated by the New York Department of Financial Services (NYDFS) making it one of the most regulated tokens in the market.
Since the listing, the token has bagged multiple listings, in a bid to drive its adoption forward.
How Much Has The Ripple Token Grown?
Although the stablecoin launched with intense price volatility, it has maintained its 1:1 peg to the US Dollar.
Current data from XPMarket shows that RLUSD is up 0.22% at the time of writing to maintain the $1 peg. While its market capitalization has grown from the initial $1.3 million to $4 million, its fully diluted cap is now pegged at $19.2 million.
Thus far, a total of 6,900 users now hold RLUSD stablecoin with the current exchange listings likely to boost its adoption rate. The Ripple stablecoin is considered off to a good start with industry leaders like Charles Hoskinson commending the token.
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