Ripple Teams Up With Major Crypto Exchange to Boost RLUSD Liquidity
Ripple’s stablecoin, which has amassed a market cap of over $1.5 billion in a yr and a half after its launch, has obtained a notable adoption push from one of many largest cryptocurrency exchanges, OKX.
The official assertion from each events knowledgeable that the addition of RLUSD to eligible markets on OKX will “considerably” broaden the underlying asset’s world entry, liquidity, and buying and selling utility.
“As RLUSD adoption accelerates, we’re seeing robust demand throughout each crypto-native and institutional markets, notably for high-quality collateral. Partnering with OKX provides customers extra methods to deploy capital effectively throughout spot and derivatives, whereas deepening RLUSD liquidity on one of many world’s largest buying and selling platforms,” commented Ripple’s SVP of Stablecoins, Jack McDonald.
The stablecoin is now accessible for buying and selling in over 280 pairs on OKX, together with towards Ripple’s cross-border token, XRP. It can be utilized as “institutional-grade margin collateral for derivatives, together with perpetual futures the place accessible.”
The assertion famous that deposits and withdrawals can be powered by way of the XRP Ledger (XRPL), with “direct minting and redemption guaranteeing constant entry to liquidity.”
RLUSD has grown to a $1.5 billion asset and has neared the highest 50 cryptocurrencies by market cap in lower than 18 months since its launch in December 2024. It’s presently the eighth largest stablecoin by that metric, in accordance to knowledge from CMC and CoinGecko.
RLUSD can be utilized to commerce and collateralize positions throughout each spot and derivatives markets on OKX utilizing the trade’s Unified Order Book, which consolidates all eligible pairs into one liquidity pool, interface, and worth discovery mechanism.
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