Ripple's RLUSD stablecoin continues to gain traction after its recent listing on Gemini. This event highlights RLUSD's expansion into financial services and education.
Gemini Listing: A Step Towards Popularity
On May 6, Gemini announced deposits, withdrawals, and spot trading for RLUSD. The listing was hinted at with a cryptic tweet that quickly spread within the XRP community. With the addition of RLUSD, Gemini is the latest major exchange to support Ripple's stablecoin, joining Bitstamp, Uphold, and Revolut.
RLUSD in Education: Supporting American Schools
Beyond trading, Ripple's RLUSD stablecoin is being utilized to support the education sector in the U.S. On May 5, Ripple announced a commitment of $25 million in RLUSD through partnerships with DonorsChoose and Teach For America to fund school supplies, technology, and financial literacy programs, particularly in underfunded K-12 classrooms.
Institutional Finance: The Acquisition of Hidden Road
RLUSD also includes institutional-grade financial infrastructure. In April, Ripple announced the acquisition of Hidden Road, a London-based prime brokerage platform, for $1.25 billion. According to Ripple, RLUSD will be used as collateral within Hidden Road's trading and settlement operations, further integrating the stablecoin into complex cross-border financial workflows.
Ripple's dual approach of growing RLUSD's presence on exchanges while embedding it in education and institutional finance illustrates how stablecoins are evolving in today's economy. By listing on major exchanges and backing philanthropic efforts, RLUSD is establishing itself as a significant financial tool.
