Ripple's RLUSD Support: New Horizons for the Stablecoin

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by Giorgi Kostiuk

2 years ago

Ripple introduced the stablecoin RLUSD last spring, and it has since received approval and backing from several cryptocurrency exchanges. While giants such as Coinbase and Binance have yet to join, their participation is anticipated soon.

Rapid Expansion of RLUSD Support

The first support for Ripple's stablecoin RLUSD was provided by exchanges such as Uphold, Bitstamp, Bitso, Moonpay, and CoinMENA. However, key players like Coinbase and Binance have not yet listed it. Ripple's president, Monica Long, highlighted in her latest interview that these major exchanges are expected to add RLUSD soon.

Prospects for an XRP ETF

Monica Long also suggested that more crypto ETFs could be introduced by U.S. companies this year, with an XRP ETF 'likely to be next in line.'

SEC Leadership Change and Its Impact on Ripple

A new SEC chair, Paul Atkins, with a pro-crypto stance, is expected to replace the current chair Gary Gensler, potentially benefiting Ripple amid ongoing legal disputes since December 2020.

Ripple is actively promoting its stablecoin RLUSD, and potential inclusion of it as a supported asset on platforms like Coinbase and Binance could significantly strengthen its position. The SEC leadership change might also pave the way for positive changes in Ripple's regulatory engagements.

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