BitMEX has become the first exchange to accept RLUSD, Ripple’s USD-pegged stablecoin, as margin for derivatives trading, providing traders with enhanced flexibility and options.
New Feature on BitMEX
As of May 20, 2025, spot trading of RLUSD is available on BitMEX. By May 22, the exchange integrated RLUSD into its margin trading system, allowing users to trade futures and perpetual contracts.
Benefits of Using RLUSD
Using RLUSD offers traders several advantages:
* **Increased Flexibility:** Users can manage volatility and protect their assets by using RLUSD, a USD-backed asset. * **Regulated and Transparent:** RLUSD is issued by Ripple’s subsidiary and is fully backed by USD with monthly reserve attestations. * **Multi-Chain Support:** RLUSD is available on both Ethereum and the XRP Ledger, increasing its accessibility.
Launch of User Promotional Campaign
To boost the adoption of RLUSD, BitMEX has launched the "Ripple Effect" campaign with a total prize pool of 15,000 RLUSD. The campaign includes:
1. **Deposit and Buy:** Participants can win from a 4,000 RLUSD pool for deposits. 2. **Margin Trading Challenge:** The first 200 traders reaching $20,000 in trading volume using RLUSD margin will share 7,000 RLUSD. 3. **Hold-to-Earn:** Users holding at least 5,000 RLUSD during snapshot periods will share 4,000 RLUSD.
The integration of RLUSD into margin trading on BitMEX represents an important step towards greater stablecoin utility in derivatives trading. As trust in such assets grows, wider adoption on other exchanges may follow.
