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.
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