crypto.news 2025-05-29 09:37:17

Bitget expands USD-backed tokens list with Ripple’s RLUSD stablecoin

Cryptocurrency exchange Bitget has added Ripple’s RLUSD stablecoin to its spot trading platform, broadening its USD-backed asset lineup. Bitget has listed Ripple USD ( RLUSD ), a U.S. dollar-pegged stablecoin issued by Ripple , on its spot trading platform, expanding the still limited number of centralized exchanges that support the token six months after its launch . In a press release shared with crypto.news, Bitget said the listing is part of its broader strategy to support “high utility-driven assets” and expand access to stablecoins that play a role in real-world applications. Bitget CEO Gracy Chen says RLUSD stands out as “one of the few stablecoins issued by a NYDFS-chartered limited purpose trust company, placing it in a uniquely clear regulatory framework.” “This is particularly important for institutions seeking transparency and compliance in today’s evolving digital asset landscape. Listing RLUSD also aligns with our 2025 strategy to expand institutional offerings and build a more robust, trusted ecosystem.” Gracy Chen Ripple’s stablecoin isn’t widely available yet. As of press time, RLUSD isn’t listed on major platforms like Binance or Coinbase. However, it’s still supported by their rivals like Kraken, Bitstamp, BitMEX, Bitso, and a few other smaller platforms, according to data from crypto aggregator platforms. You might also like: Is USDT losing ground? The EU’s MiCA rules and the rise of USDC and RLUSD In the meantime, Ripple is also working to expand RLUSD’s presence in decentralized finance, aiming to tap into a market worth nearly $124 billion. In late April, the company partnered with Aave, enabling users on the lending platform to supply and borrow RLUSD. Backed by regulatory approval from the New York State Department of Financial Services, RLUSD is designed as an enterprise-grade stablecoin that combines the stability of fiat with the efficiency of blockchain technology. It enables use cases such as global payments, seamless crypto on/off ramping, and access to the rapidly expanding market for tokenized real-world assets. Read more: Ripple to pilot RLUSD for drought relief in Kenya