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Ripple Mints Another $3.4M RLUSD Amid Major Exchange Listings
In a significant move, Ripple Labs has minted over $3.4 million worth of its RLUSD stablecoin as the asset gains traction across global trading platforms. This development underscores the growing demand for the digital asset and its increasing prominence in the cryptocurrency market.
According to recent reports, 3 million RLUSD were minted at the RLUSD Treasury before being transferred to another wallet on the Ethereum mainnet. In addition to this, 404,712 RLUSD were issued on the XRP Ledger network, further emphasizing Ripple’s commitment to ensuring seamless compatibility with decentralized finance (DeFi) applications and robust cross-border payment support.
This move aligns with Ripple’s recent push for RLUSD’s global adoption. Launched on December 16, 2024, RLUSD has quickly gained attention in the crypto market, marking its debut on major platforms such as Bitso, Uphold, and now Bullish, a centralized trading platform.
In related news, RLUSD has also made its debut on Independent Reserve, a licensed exchange in Singapore. This listing underscores Singapore’s growing reputation as a hub for crypto innovation and reinforces Ripple’s decision to launch its stablecoin on IR, highlighting the strong trust and mutual support between both entities.
RLUSD is now available in seven trading pairs on Bullish, including RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD. This move makes RLUSD the most widely paired product introduced on Bullish this year.
In a statement, Lasanka Perera, CEO of Independent Reserve Singapore, emphasized the potential of RLUSD to enhance global liquidity. “As long-standing partners of Ripple, we are proud to be the first regulated exchange to offer Ripple USD in Singapore. Ripple’s decision to launch its stablecoin on IR reflects the strong trust and mutual support we have built over the years,” he stated.
The listing on Independent Reserve offers RLUSD trading against both the Singapore dollar (SGD) and the US dollar (USD) via both its order book and OTC desk.
Source: www.cryptonewsz.com
