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Ripple Labs has minted significant quantities of its RLUSD stablecoin as the asset gains traction across global trading platforms. The blockchain firm has minted over $3.4 million worth of RLUSD today.
Ripple Continues Minting RLUSD Stablecoin
On the Ethereum mainnet, 3 million RLUSD were minted at the RLUSD Treasury before being transferred to another wallet. Simultaneously, 404,712 RLUSD were issued on the XRP Ledger network, underscoring Ripple’s dual-network strategy to ensure seamless compatibility with DeFi applications and robust cross-border payment support.
This development aligns with Ripple’s recent push for RLUSD’s global adoption. Launched on December 16, 2024, RLUSD has rapidly gained attention in the crypto market, marking its debut on major platforms such as Bitso, Uphold, and now Bullish, which is a centralized trading platform.
💵💵💵💵💵💵 3,000,000 #RLUSD minted at RLUSD Treasury.https://t.co/ERYQzjK5VS
— Ripple Stablecoin Tracker (@RL_Tracker) December 24, 2024
Despite its global operations, Bullish has announced restrictions for users in the United Kingdom, where access to RLUSD will be limited to those meeting specific criteria. The RLUSD stablecoin, issued as an ERC-20 token, is now available in seven trading pairs on Bullish.
The pairs include RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD. These listings make RLUSD the most widely paired product introduced on Bullish this year.
Bullish has listed RLUSD alongside other notable assets this month, such as MOCA, Ethereum Classic (ETC), and EDU. This highlights the platform’s expanding portfolio and Ripple’s increasing prominence in the stablecoin market.
Other Notable Listing Today
In Singapore, RLUSD also made its debut on Independent Reserve, marking the first listing of the stablecoin on a licensed exchange in the country. Lasanka Perera, CEO of Independent Reserve Singapore, emphasized the asset’s potential 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.
Independent Reserve offers RLUSD trading against the Singapore dollar (SGD) and the US dollar (USD) via both its order book and OTC desk. The listing underscores Singapore’s growing reputation as a hub for crypto innovation.
Ripple Labs positions RLUSD as a reliable and efficient solution for financial institutions and investors. With its one-to-one valuation against the US dollar and dual issuance on the Ethereum and XRP Ledger networks, RLUSD is designed to address the growing demand for stable and secure digital assets.