Bybit Lists Ripple’s Stablecoin RLUSD
Crypto exchange Bybit has added Ripple’s dollar-backed stablecoin RLUSD to its platform. This follows BlackRock and VanEck integrating RLUSD into their tokenized funds earlier this week.
Bybit supports spot trading for RLUSD against USDT, Bitcoin (BTC), Ethereum (ETH), XRP, and Mantle (MNT). Deposits and withdrawals are enabled on both the Ethereum blockchain and the XRP Ledger, where RLUSD is natively issued.
Availability of trading pairs depends on local regulations. Still, the listing expands options for traders and investors to use RLUSD.
Integration with Tokenized Funds
Bybit’s RLUSD listing comes shortly after Ripple partnered with Securitize. This partnership enables investors in BlackRock’s BUIDL fund and VanEck’s VBILL fund to redeem tokenized shares directly into RLUSD.
This offers a key off-ramp for institutional investors. It allows smooth movement between regulated tokenized funds and a stable digital dollar.
Significance of the Listing
Bybit’s support for RLUSD is a major step for Ripple. It aims to position RLUSD as a strong competitor in the stablecoin market. For Bybit, RLUSD connects users to tokenized real-world assets from major traditional finance firms like BlackRock.
RLUSD currently ranks as the 94th largest cryptocurrency, with a market cap of $741 million. It is also listed on exchanges such as Bullish, Uphold, Bitstamp, Moonpay, CoinMENA, ArchaxEx, and Bitso.
While RLUSD is not yet on top exchanges like Binance or Coinbase, its growing institutional use and adoption by platforms like Bybit suggest potential for future growth.
