The cryptocurrency exchange Bitget has added the Ripple USD (RLUSD) stablecoin to its spot trading platform, expanding its USD-backed asset lineup.
Expansion of Bitget's Offerings
Bitget has announced the addition of Ripple USD (RLUSD) stablecoin to its spot trading platform. This decision is part of a broader strategy aimed at supporting 'high utility-driven assets' and improving access to stablecoins used in real-world applications. Bitget CEO Gracy Chen stated that RLUSD stands out as 'one of the few stablecoins issued by a NYDFS-chartered limited purpose trust company,' providing a strong regulatory foundation.
RLUSD Market Status
Currently, the RLUSD stablecoin is not available on major platforms such as Binance or Coinbase. However, it is supported by platforms like Kraken, Bitstamp, BitMEX, and Bitso, indicating a growing interest in the token. Support for RLUSD continues to expand six months after its launch.
Future Prospects for RLUSD in DeFi
Ripple is also working to expand RLUSD’s presence in decentralized finance (DeFi), aiming to penetrate a market worth nearly $124 billion. In late April, the company partnered with Aave, allowing users on the lending platform to supply and borrow RLUSD.
The addition of RLUSD to Bitget highlights the trend towards growing utilization of stablecoins in the digital economy. It also opens new opportunities for Ripple in the DeFi space.
