Bybit Adds Ripple’s RLUSD: 5 New Trading Pairs Launch With $741M Market Cap

Bybit has officially listed Ripple’s stablecoin RLUSD for spot trading, further solidifying its position in the growing stablecoin market.

Quick overview

  • Bybit has listed Ripple's stablecoin RLUSD for spot trading, enhancing its presence in the stablecoin market.
  • The exchange has introduced five trading pairs for RLUSD, although availability may vary by region due to local regulations.
  • RLUSD has gained traction with institutional adoption, being integrated into BlackRock and VanEck's tokenized funds.
  • Analysts anticipate further listings on larger exchanges, which could bolster RLUSD's market position and credibility.

Bybit has officially listed Ripple’s stablecoin RLUSD for spot trading, further solidifying its position in the growing stablecoin market. This comes after RLUSD was integrated into BlackRock and VanEck’s tokenized funds earlier this week, a sign of broader institutional adoption.

Bybit has added five trading pairs for RLUSD against USDT, BTC, ETH, XRP and MNT. However availability is subject to local regulations and may be restricted in some regions.

Bybit joins a growing list of exchanges including Bullish, Uphold, Bitstamp, Moonpay, CoinMENA, ArchaxEx and Bitso that already support RLUSD. RLUSD is now the 94th largest cryptocurrency with a market cap of $741 million, as adoption continues to rise.

Integration and Network Support

Bybit’s listing comes after RLUSD was integrated into BlackRock and VanEck’s tokenized funds. Ripple partnered with Securitize to allow investors to redeem BUIDL and VBILL shares for RLUSD, a new off-ramp for tokenized assets.

The exchange now supports RLUSD deposits and withdrawals on both the Ethereum blockchain and the XRP Ledger (XRPL) – the two networks currently compatible with the stablecoin.

Key highlights:

  • Fund Integration: RLUSD can now be redeemed for BlackRock’s BUIDL and VanEck’s VBILL shares.
  • Community Support: XRPL validator Vet welcomed deposit and withdrawal functionality.
  • XRP Market Growth: Pro-XRP lawyer Bill Morgan loves the XRP/RLUSD trading pair.

Future Adoption

While Bybit’s listing is a big step forward, bigger exchanges like Binance, Coinbase and Robinhood have yet to list RLUSD. Analysts and community members believe more listings are coming given the momentum around the stablecoin.

If bigger exchanges list RLUSD, it could expand its reach and strengthen Ripple’s position in the digital asset space. Its integration into institutional products also brings credibility, bridging the gap between traditional finance and blockchain.

As adoption grows, RLUSD is poised to be a major player in the evolving stablecoin landscape, with growing exchange listings, institutional backing and Ripple’s existing infrastructure.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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