Ripple USD (RLUSD) Listed by Yet Another Major Exchange
Emily HarrisRLUSD has secured another significant exchange listing, but its market cap growth has stalled[...]
Bitget Embraces Ripple USD, Expanding Stablecoin Offerings
In a move to bolster its cryptocurrency trading platform, Bitget has announced the addition of support for the Ripple USD (RLUSD) stablecoin. This integration allows users to deposit the token and initiate trading, which is set to commence later today.
RLUSD, which made its debut in late 2022, currently boasts a market capitalization of $309 million, according to CoinGecko data. Bitget will offer two trading pairs for the new stablecoin: RLUSD/USDT and RLUSD/USDC.
The announcement comes on the heels of BitMEX's recent addition of RLUSD support earlier this month. Additionally, the stablecoin is already available on prominent exchanges, including Bitstamp and Kraken, where it has recorded a trading volume of $94 million over the past 24 hours.
Ripple, the company behind the RLUSD token, has set its sights on achieving a top 5 placement among stablecoins by the end of the year. However, the Ripple Stablecoin Tracker account has revealed that no new RLUSD tokens have been issued this month, casting doubt on the feasibility of this ambitious goal.
Despite the recent integration, RLUSD still lags behind established stablecoins such as Dai (DAI), which holds a market cap of $3.7 billion, as well as PayPal USD (PYUSD) and TrueUSD (TUSD).
