Ripple’s USD-backed stablecoin, RLUSD, has gained significant traction following its recent listing on multiple trading platforms. On Wednesday, the company announced that RLUSD is now available for trading on Revolut and Zero Hash, marking an important step in expanding its adoption.
Revolut’s Growing Crypto Offerings
Revolut, a London-based fintech company, serves over 50 million users globally and has been increasing its presence in the cryptocurrency space. In September, reports surfaced that Revolut was developing its stablecoin. By November, the firm had secured a UK banking license, allowing it to expand its services across the European Union. The listing of RLUSD on Revolut aligns with the company’s efforts to enhance its digital asset offerings.
Zero Hash Integration and Market Impact
Zero Hash, a leading cryptocurrency infrastructure provider, has also added the stablecoin to its platform. With this integration, the firm now supports five stablecoins across multiple blockchain networks. The inclusion of the stablecoin is particularly significant, as it integrates Ripple’s stablecoin into Zero Hash’s stablecoin engine, which powers various financial services, including remittances, payouts, and AI-driven transactions.
According to Zero Hash CEO Edward Woodford, RLUSD’s listing underscores the company’s commitment to providing access to regulated and innovative stablecoin products.
RLUSD Multi-Chain Availability and Market Growth
Currently, the stablecoin is accessible on both the Ethereum blockchain and the XRP Ledger, ensuring greater flexibility for users and developers. Ripple has also indicated plans to expand RLUSD’s availability to additional platforms soon.
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Beyond these recent listings, the token has also been added to other exchanges, including Bitstamp, one of the longest-standing cryptocurrency exchanges. Market data from CoinGecko shows that the stablecoin has reached a market capitalization of $108 million, reflecting increasing demand for Ripple’s stablecoin.
With listings on major platforms like Revolut, Zero Hash, and Bitstamp, the stablecoin is solidifying its position in the growing stablecoin market. The recent feature in the Wall Street Journal equally highlights Ripple as a worthy contender against industry giants. These strategic partnerships enhance the stablecoin’s accessibility and strengthen Ripple’s presence in the expanding digital payments ecosystem.
The future of the RLUSD looks promising, with key figures like Austin King highlighting its potential in shaping the future of stablecoins through compliance and institutional adoption.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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