Major Ripple (XRP) Update Also Concerning Binance

3 weeks ago 15

Ripple shared important news regarding its stablecoin RLUSD.

Ripple has just announced that its dollar-backed stablecoin, RLUSD, will be listed for spot trading on the world’s leading cryptocurrency exchange, Binance.

According to the official release, the listing includes support for Ethereum, while XRP Ledger (XRPL) capabilities are underway.

On launch day, the available trading pairs include:

XRP/RLUSD
RLUSD/USDT

In addition, the listing will cover:

Spot trading support for the stablecoin
Eligibility for portfolio margin
Inclusion in Binance Earn is soon to come as well

This should increase RLUSD’s overall utility for leveraged trading while also cementing its position as yet another stablecoin seeking to capitalize on this growing crypto narrative.

At the time of this writing, its total market capitalization is $1.4 billion. Although this is a far cry from the market leaders in the face of USDT and the USDC, which currently sit on $186B and $74B, respectively, RLUSD is on a steady path upward.

Meanwhile, a partnership with Binance adds to the growing list of collaborations that Ripple is working on. As CryptoPotato reported back in November last year, MasterCard was the latest financial giant to join the liks of Gemini in testing RLUSD usage on the XRPL.

About the author

Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.

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