Bitstamp, a leading cryptocurrency exchange, recently made announcement on X platform and informed the users that the platform is expanding its offering by introducing Ripple USD (RLUSD) on Ethereum Network. Developed by Ripple, RLUSD is a stablecoin that is pegged 1:1 to the US Dollar and is designed for institutional financial use cases, including payments and tokenization.
Bitstamp to Offer Various Trading Pairs With Ripple’s RLUSD
Bitstamp has listed several trading pairs for RLUSD, including RLUSD/EUR, RLUSD/USD, RLUSD/USDT, RLUSD/BTC, RLUSD/ETH, and RLUSD/XRP. This diverse range of pair will enable users to trade RLUSD against major fiat currencies and cryptocurrencies, which would enhance liquidity and will provide more trading options to the user.
In order to start RLUSD trading, users have to log in to their Bitstamp acoounts via the website or the mobile app, available on App Store and Google Play. Bitstamp emphasizes to download the app from official channels to protect user funds and avoid being trapped in fraudulent activities.
Increased Adoption of Stablecoins
Just yesterday Monica Long, the President of Ripple in an interview with Bloomberg crypto said that the stablecoin will be soon listed on well-known platforms and today the RLUSD has been listed on Bitstamp. She also emphasized that with regulatory clarity coming in with Trump’s administration taking over the White House, the adoption of stabelcoin is expected to increase.
Stablecoins Bridge Between Digital Assets and Traditional Financial Assets
The addition of RLUSD to Bitstamp’s platform reflects the growing adoption of stablecoins in the cryptocurrency market, offering users a stable asset for trading and financial transactions. Ripple’s RLUSD is designed to provide a reliable and compliant stablecoin solution for institutional use, with its valued pegged to the US dollar and backed up reserve comprising US dollar deposits, US government bonds, and cash equivalents.
Also Read: Ethereum Foundation Sold 100 ETH Today, Market Reacts
Source: https://www.cryptonewsz.com/ripple-rlusd-lists-on-bitstamp/