u.today
28 July 2026 05:59, UTC
Upbit, the leading South Korean cryptocurrency exchange, has announced the listing of Ripple's highly regulated $RLUSD stablecoin.
The trading giant, which boasts a 70% share of the South Korean market, has launched three pairs with $RLUSD ($RLUSD/KRW, $RLUSD/$BTC, and $RLUSD/$USDT).
$RLUSD has been added to some major trading platforms since its much-hyped launch in December 2024. Other notable listings include OKX in April 2026, Kraken in April 2025, and Bitstamp in January 2025.
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CoinGecko data shows that trading activity remains mainly concentrated on a handful of exchanges.
According to CoinGecko, Bullish is the largest venue for $RLUSD trading, accounting for roughly 52% of total spot volume through its $XRP/$RLUSD, $RLUSD/$USDC, ETH/$RLUSD, and $BTC/$RLUSD markets.
Binance is the second-largest exchange, with the $RLUSD/$USDT pair accounting for roughly 16% of global $RLUSD trading volume.
Overall, the $XRP/$RLUSD pair on Bullish is the single largest $RLUSD market by volume. It is followed by Binance's $RLUSD/$USDT pair, Bullish's $RLUSD/$USDC market, First Ledger's $RLUSD/$XRP pool, and Sologenic's $XRP/$RLUSD pair.
The most recent $RLUSD listing is particularly notable because South Korea has consistently been one of the strongest (if not the strongest markets) for the $XRP token.
Korean exchanges are heavily driven by altcoins, and $XRP has become the darling of local traders after initially gaining adoption on the local exchanges during the 2017-2018 bull market.
Korean exchanges mainly offer KRW-denominated spot markets instead of stablecoin pairs, so retail investors tend to trade directly against the Korean won. This makes $XRP/KRW one of the deepest and most liquid $XRP markets in the world.
On Upbit, $XRP/KRW was the exchange's most-traded market, ahead of $BTC/KRW in 2025.
Periods when $XRP dominates Korean trading coincide with massive volatility.
