Ripple's stablecoin, RLUSD, is expected to be listed on major cryptocurrency exchanges soon, according to Ripple's president, Monica Long.
The company is focused on expanding the availability of RLUSD, which was launched on December 17, 2023, and is pegged 1:1 to the US dollar.
RLUSD is currently available on platforms like Bitso, MoonPay, and Mercado Bitcoin, with more listings expected in the future.
RLUSD has a market capitalization of around $71.8 million and is primarily traded on the Bullish exchange.
The demand for RLUSD is driven by Ripple's payments business, which has doubled over the past year.
Stablecoins have seen significant growth, with a total valuation of $206.17 billion.
Tether (USDT) dominates the stablecoin market with a 66% market share.
Ripple aims to capitalize on this trend with RLUSD, which facilitates seamless transactions and enhances liquidity.
Long also mentioned the possibility of an XRP exchange-traded fund (ETF) in the future.
Ripple has partnered with Chainlink to integrate price feeds for RLUSD on Ethereum and the XRP Ledger, ensuring accurate pricing data.
This collaboration supports decentralized finance (DeFi) applications and mitigates risks associated with price manipulation and downtime.
Ripple's expanding offerings and partnerships position the company to capitalize on the growing demand for stablecoins and the increasing interest in cryptocurrency investment vehicles like ETFs.