Ripple has officially unveiled that its dollar-pegged stablecoin, RLUSD, will be listed for spot trading on Binance, the largest cryptocurrency exchange globally.

According to the announcement, the listing will also support Ethereum, with XRP Ledger (XRPL) capabilities on the horizon.

On its launch day, traders can engage in:

• XRP/RLUSD
• RLUSD/USDT

Furthermore, the listing will also feature:

• Spot trading for RLUSD
• Eligibility for portfolio margin
• Soon-to-come inclusion in Binance Earn

This strategic move aims to bolster RLUSD’s usability in leveraged trading while solidifying its position within the expanding cryptocurrency landscape.

Currently, RLUSD’s market capitalization stands at $1.4 billion, a significant increase despite being dwarfed by other major stablecoins like USDT and USDC, which hold market caps of $186 billion and $74 billion, respectively.

Additionally, the collaboration with Binance supplements Ripple’s growing network of partnerships. Previous reports have showcased Ripple collaborating with financial entities such as MasterCard to test RLUSD’s application on XRPL.

Related Links:

• Ripple Secures Preliminary Electronic Money Institution License in Luxembourg
• Ripple Notches Major Regulatory Victory From the UK’s FCA: Details
• Ripple CEO Criticizes NYT for ‘Crypto Hit Piece’

Source: CoinGecko