Bybit Lists Ripple’s RLUSD Following BlackRock and VanEck Integration

Crypto exchange Bybit has announced its listing of Ripple’s RLUSD amid the stablecoin’s growing adoption. This development follows the stablecoin’s integration of BlackRock and VanEck’s tokenized funds earlier this week.

Bybit Spot Exchange Lists RLUSD, Expanding Trading Options

Bybit announced the listing of the stablecoin for spot trading. The listing introduces multiple trading pairs for the stablecoin against USDT, Bitcoin, Ethereum, XRP, and MNT. Although it expands options for traders and investors, the availability of these trading pairs varies depending on jurisdictional regulations.

Notably, the top crypto exchange joins a host of other trading platforms that have already listed the RLUSD stablecoin, including Bullish, Uphld, Bitstamp, Moonpay, CoinMENA, ArchaxEx, and Bitso. This listing comes amid the stablecoin’s rising adoption, as it currently ranks as the 94th largest cryptocurrency, with a market cap of $741 million.

Bybit has enabled support for RLSUD on both the Ethereum network and XRP Ledger (XRPL), which are the only two networks that currently natively support the stablecoin.

Meanwhile, this listing follows the integration of the stablecoin into BlackRock and VanEck’s tokenized funds. As CoinGape reported, Ripple and Securitize partnered to enable investors to redeem BUIDL and VBILL shares for the stablecoin, offering an off-ramp support.

XRPL validator Vet remarked that it was good to see RLUSD deposit and withdrawal integration on the XRP Ledger. Pro-XRP lawyer Bill Morgan stated that it was good to see an XRP/RLUSD pair. Meanwhile, XRP community member Chad Steingraber predicted that more exchanges are likely to list the stablecoin soon, following the Bybit listing.

Crypto exchanges Binance, Coinbase, and Robinhood are among the notable names that have yet to list the stablecoin for spot trading. Listing on these exchanges could provide greater visibility for the stablecoin and boost its adoption.