Ripple’s stablecoin, RLUSD, has officially launched on the cryptocurrency exchange Bybit, allowing traders to exchange it against Tether (USDT). This partnership marks a significant milestone as RLUSD will also be featured as a base currency for various trading pairs, including Bitcoin (BTCRLUSD), Ethereum (ETHRLUSD), and Ripple (XRPRLUSD), as well as MNT/RLUSD.
As per CoinGecko, the market capitalization of RLUSD is nearing the $750 million mark, solidifying its position in the competitive stablecoin landscape.
Founded in 2018, Bybit has rapidly ascended to become a major player in the cryptocurrency trading sector, attracting a global user base of 60 million. The exchange has distinguished itself in the market, ranking second in XRP futures volume with an impressive $1.27 billion, a figure that places it just behind Binance, according to data from CoinGlass.
Other exchanges that have embraced RLUSD include Bullish, Bitstamp, and Kraken, broadening its accessibility across various platforms. Notably, the XRPRLUSD trading pair on Bullish has emerged as the most actively traded, with a substantial 24-hour trading volume of $92.2 million, highlighting the growing interest in Ripple’s stablecoin.
This listing on Bybit is expected to further enhance RLUSD’s visibility and facilitate greater trading activity, potentially driving increased adoption among traders and investors in the cryptocurrency space.
