In the latest XRP News, Ripple shared that its RLUSD stablecoin would begin spot trading on Binance tomorrow. They also shared that the integration of the XRPL would come in later.
Ripple’s Stablecoin RLUSD Gets Key Binance Listing
In a recent press release, the firm shared that its stablecoin would be available to traders on the exchange from 26th of January. The coin will support Ethereum upon launch with the XRP Ledger integration expected to follow.
Binance shared it would have trading pairs for both USDT and XRP. This will give investors access to trade the stablecoin with its growing altcoin. Later, users would also be able to earn yield on the exchange using the new asset.
This comes as RLUSD has seen more than $1.3 billion in market value due to its continued adoption across major partners and institutions. The new listing would open up the stablecoin to more liquidity thanks to the exchange’s large user base.
Binance shared that users can now start depositing their token ahead of the launch tomorrow. They also shared that they are running a zero-fee promotion for the coin.
The listing comes just after Bybit listed RLUSD on its platform last September. The stablecoin has continued to see growing adoption as market embraces its development.
Momentum Continues to Grow Globally
Ripple highlighted in its release that the stablecoin has seen further expansion across the world. Recently, this coin was officially acknowledged by the FSA in Abu Dhabi to be a valid fiat system reference token. This means that institutions governed by this organization may make use of this coin for legitimate activities.
Moreover, RLUSD has been used in other regions, including Africa, with the assistance of Chipper Cash. In addition, the company acquired a license from the Dubai Financial Services Authority and collaborated with Fintech Bay, based in Bahrain, catering to the Gulf region.
On the institutional side, the firm sought to boost the stablecoin’s growth through a partnership with LMAX Group. Ripple invested $150 milllion in the company. The Group would use the firm’s stablecoin for its institutional FX trading infrastructure,
Source: https://coingape.com/breaking-ripples-rlusd-goes-live-on-binance-as-xrpl-support-nears/
