BitMEX Adds RLUSD Margin for Derivatives Trading

BitMEX has become the first major crypto exchange to accept RLUSD margin—Ripple’s USD-pegged stablecoin—for collateral on its derivatives platform. This new feature allows users to use RLUSD to trade perpetual and futures contracts, expanding the choices available beyond traditional crypto assets like BTC, ETH, and USDT.

The listing of RLUSD began with spot trading on May 20, 2025. By May 22, BitMEX integrated RLUSD into its Multi-Asset Margining system, enabling users to use the stablecoin as margin. This move provides traders with increased flexibility, allowing them to manage volatility and protect their holdings while participating in derivatives markets. RLUSD is issued by Ripple’s subsidiary, Standard Custody & Trust Company, and is fully backed 1:1 with U.S. dollars, offering monthly reserve attestations. Additionally, RLUSD is available on both Ethereum and the XRP Ledger, increasing its accessibility and use cases.

To drive adoption, BitMEX launched a “Ripple Effect” campaign with a 15,000 RLUSD prize pool. The campaign includes several incentives: early participants depositing RLUSD can win from a 4,000 RLUSD pool, the first 200 traders reaching $20,000 in trading volume using RLUSD margin share 7,000 RLUSD, and users holding at least 5,000 RLUSD during snapshot periods will share 4,000 RLUSD. These incentives aim to boost RLUSD trading and showcase its practical benefits in margin use.

BitMEX’s move to integrate RLUSD margin marks a broader shift toward greater stablecoin utility in derivatives trading. As regulatory clarity grows and stablecoins like RLUSD gain trust, more exchanges might follow suit, expanding user options across crypto platforms. This development is expected to attract a broader range of traders who are looking for more secure and predictable margin options, potentially increasing the liquidity and activity on the BitMEX platform. The ability to use stablecoins as margin can enhance the overall stability and reliability of the derivatives market, making it more accessible to a wider audience. Traders who are cautious about the volatility of traditional cryptocurrencies may find RLUSD a more appealing choice.