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This Leading Crypto Exchange Embraces Ripple’s Stablecoin: Details
In a recent development, Bitstamp has announced its decision to integrate Ripple’s stablecoin, RLUSD. The Luxembourg-based cryptocurrency exchange has become the latest major platform to support the asset, joining the likes of Uphold, Bitso, Moonpay, and CoinMENA.
RLUSD is designed to maintain a 1:1 peg with the US dollar. As of the time of writing, users can now engage in various trading pairs such as RLUSD/EUR, RLUSD/USD, RLUSD/USDT, RLUSD/BTC, RLUSD/ETH, and RLUSD/XRP.
The addition of RLUSD to its platform underscores Bitstamp’s commitment to offering a diverse range of assets for its user base. The exchange has long been at the forefront of providing innovative services that cater to institutional investors and individual traders alike.
Interestingly, Ripple’s president, Monica Long, had hinted earlier in the week that other leading exchanges would be quick to follow suit. It appears her statement was not an empty promise, as Bitstamp has now confirmed its support for RLUSD. The integration is a significant development in the growth of the stablecoin ecosystem, and we can expect more news on this front in the coming weeks.
RLUSD’s first few weeks in existence were marked by substantial price fluctuations, with prices ranging from $0.96 to $1.06. This volatility led Ripple’s Chief Technology Officer (CTO), David Schwartz, to caution against speculative behavior and urge investors not to fall victim to FOMO (fear of missing out).
Source: cryptopotato.com
