This week, Kraken announced the addition of Ripple's RLUSD stablecoin to its platform, enhancing its availability and integration into Ripple Payments.
Listing on Kraken
Starting at 16:00 UTC this Wednesday, Kraken began trading the RLUSD stablecoin, allowing exchange users to interact with it. Kraken users can deposit Ripple USD by selecting RLUSD in the funding tab of their account and using one of the supported networks. However, access to RLUSD through the mobile Kraken app is not yet available, nor is the instant buy feature until all liquidity requirements are met. Previously, RLUSD was already available on platforms such as Archax, Bitso, and Bitstamp.
Integration into Ripple Payments
In addition to its listing on Kraken, Ripple has also integrated RLUSD into its cross-border payments platform, Ripple Payments. Jack McDonald, Senior Vice President of stablecoins at Ripple, highlighted that this integration enables fast, low-cost, and scalable cross-border payments. Ripple claims the platform offers near-global coverage through over 90 payout markets and provides instant connections to banks, financial institutions, and payment service providers.
Growth and Prospects of RLUSD
RLUSD's total market cap has reached $250 million just three months after its launch, with monthly transfer volumes increasing by 55%. The token has also surpassed the $10 billion trading volume mark. Analysts attribute its growth to listings on global exchanges and increased adoption among financial institutions and NGOs.
With RLUSD's listing on Kraken and its integration into Ripple Payments, the stablecoin is showing significant growth and potential for use in international financial operations. The expanding infrastructure around the token supports its further dissemination.
