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In a notable development, Stablecoin RLUSD It has seen a rise in trading volumes, rising by 106% in the past 24 hours. according to Data From CoinMarketCap, RLUSD trading volume reached $39 million over the past 24 hours, highlighting the growing attraction of this stablecoin in the market.
The bulk of the trading volume comes from the bullish RLUSD/USDC pair, which is around 55.02%, reflecting the strong demand for RLUSD among users who transact between these two stablecoins. On the upside, BTC/RLUSD contributed 23.15%, while XRP/RLUSD contributed 12% to the overall trading volume.
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RLUSD, a stablecoin pegged to the US dollar, is issued natively on both the XRP Ledger and Ethereum networks and can be used for a variety of applications and use cases, including cross-border payments and decentralized banking.
The Ripple stablecoin has made its debut on cryptocurrency exchanges
Ripple USD (RLUSD) launched globally on December 17, initially on platforms such as Uphold, MoonPay, CoinMENA, Archax, and Bitso, with more listings likely to occur in the following weeks.
On December 24, RLUSD began trading bullish, allowing eligible zones to trade the following markets: RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD. .
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On the same day, RLUSD debuted on the independent reserve, singaporeThe first cryptocurrency exchange to list a stablecoin.
The release of RLUSD marks a new chapter for both XRP Ledger and Ripple to be used in payments flows. Although stablecoins have historically been used for trading purposes, other use cases have emerged, and Ripple is particularly interested in acquiring one to complement its existing business.
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