Ripple’s U.S. dollar-backed stablecoin, RLUSD, is officially listed on the Binance crypto exchange, where it is, for now, trading on Ethereum (ETH), with XRP Ledger (XRPL) integration coming soon.
At launch, Binance will offer the XRP/RLUSD and RLUSD/USDT trading pairs, and the stablecoin will become eligible for portfolio margin to allow for leveraged trading.
Likewise, according to a Ripple press release released on January 21, Binance plans to add RLUSD to its Earn products, which will help users generate yield and expand use cases for the stablecoin within the exchange’s ecosystem. Trading is expected to go live on Binance in the coming days.
Ripple’s RLUSD Binance listing
The goal of the new Binance RLUSD listing is to position the cryptocurrency as an enterprise-grade payment asset, allowing users to operate natively across both XRPL and Ethereum’s smart contract ecosystem.
Issued under a New York Department of Financial Services Limited Purpose Trust Company Charter, RLUSD is fully backed 1:1 by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents. Moreover, Ripple has also received conditional approval for an Office of the Comptroller of the Currency (OCC) charter, which adds another layer of state and federal oversight.
With RLUSD’s market capitalization recently surpassing $1.3 billion due to rising adoption, especially in institutional decentralized finance (DeFi), deeper exchange liquidity, and expanding coverage are expected to promote the stablecoin as a viable infrastructure component for on-chain payments and tokenized finance.
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Source: https://finbold.com/this-ripple-stablecoin-just-got-listed-on-a-major-crypto-exchange/
