RlUSD goes live on OKX with 280 trading pairs

Ripple’s stablecoin $RLUSD, first launched in December 2024, has significantly expanded its reach with new integrations that enable both retail and institutional crypto investors broader access. The latest developments see the $RLUSD stablecoin fully integrated on the OKX cryptocurrency exchange and the Bullish institutional trading platform, paving the way for $RLUSD to be actively used in spot, derivatives, and options markets.

Over 280 $RLUSD trading pairs and collateral options on OKX

OKX has enabled spot trading of $RLUSD across more than 280 trading pairs on its platform. Additionally, $RLUSD is now accepted as collateral in a range of derivatives products, including futures and perpetual contracts. Investors can seamlessly open positions in both spot and derivative markets with $RLUSD without the need for multiple account transfers, thanks to the unified order book. $RLUSD deposits and withdrawals are managed directly via the $XRP Ledger, while token minting and burning mechanisms are designed to maintain liquidity.

With a global user base exceeding 120 million, OKX is an influential channel for $RLUSD’s adoption. Adding over 280 trading pairs has boosted the token’s accessibility and presence across diverse markets. OKX has reported that demand for $RLUSD as a tool for active investment strategies continues to grow among its user base.

OKX representatives stated that both their global user numbers and high trading volumes help accelerate the liquidity and market adoption of stablecoins like $RLUSD. They highlighted that using $RLUSD as collateral provides greater capital efficiency in trading activities.

Bullish partnership brings $RLUSD to institutional investors

Ripple has also expanded $RLUSD’s integration to the Bullish exchange. Through this partnership, Ripple Prime clients can now use $RLUSD as collateral in Bitcoin options trading. $RLUSD streamlines both position and collateral management for large and institutional investors within a single account, eliminating the need for separate onboarding procedures. Bullish ranks as a leading Bitcoin derivatives platform by trading volume.

The Bullish integration marks a strategic advancement for $RLUSD’s institutional use cases. Ripple and Bullish are also piloting a cross-platform collateral management function, aiming to centralize collateral usage for investors across multiple exchanges and over-the-counter markets.

Bullish executives emphasized that interest in options and derivatives among institutional clients is growing steadily, with options playing a crucial role in risk management strategies.

On-chain activity and expanding real-world applications

At the end of April, on-chain data from the $XRP Ledger showed that more than 118 million $RLUSD tokens were minted and burned within just 24 hours. Over 59 million $RLUSD were destroyed and an equivalent amount was issued on that single day, reflecting ongoing treasury operations for Ripple’s stablecoin management.

$RLUSD is expanding beyond trading markets into fresh areas of use. South Korea-based digital bank K Bank has tested $RLUSD for cross-border remittances, seeking to lower transaction costs and accelerate transfers. The stablecoin has also been integrated into a cross-chain bridge that allows $RLUSD to move across networks such as Ethereum and Cardano, aiming to enhance interoperability and adaptability in different blockchain ecosystems.

Positioning itself as a digital dollar alternative, $RLUSD has gained formal regulatory approval from US-based NYDFS and the international DFSA, among others. This regulatory framework underpins Ripple’s efforts to promote $RLUSD as a safe and compliant stablecoin.