Ripple's RLUSD Stablecoin Now on Gemini, $25M Donated to US Education

Ripple’s new stablecoin, RLUSD, has been added to the major US-based cryptocurrency exchange Gemini. This development was announced by Reece Merrick, Ripple’s managing director for the Middle East and Africa, on his social media account. RLUSD, which was launched on the mainnet in early December 2024, is minted on two blockchains: XRP Ledger and Ethereum, with the latter being more frequently used for its release.

Since its launch, RLUSD has been listed on several major exchanges, including Bullish and Bitstamp. In mid-March, LMAX Digital also added support for the stablecoin. Now, Gemini has joined the list of exchanges supporting RLUSD, further expanding its accessibility and usability.

In a separate but related development, Ripple announced a significant donation of $25 million in RLUSD to support US education. The donation is aimed at benefiting two major educational non-profit organizations: DonorsChoose and Teach For America. Ripple CEO Brad Garlinghouse highlighted the partnership, stating that it will benefit thousands of classrooms across the US. This donation is part of Ripple’s efforts during Teacher Appreciation Week and is expected to fund thousands of classroom projects and teacher requests.

Aneesh Sohoni, CEO of Teach For America, expressed gratitude for the funding, noting that it will expand their Ignite Tutoring Fellows program, drive innovation in their Reinvention Lab, and provide crucial financial assistance to thousands of new corps members during their teacher preparation.

Additionally, it has been noted that the last time Ripple Treasury minted a new batch of RLUSD stablecoins was on April 25. On that day, three batches were minted containing 11,500,000 RLUSD, 11,500,000 RLUSD, and 15,000,000 RLUSD. The same day, 15,000,000 RLUSD were also burned. Since then, Ripple has not created any new stablecoins. Currently, 317.04 million RLUSD are circulating in the market.

This series of events underscores Ripple’s commitment to expanding the utility and adoption of its stablecoin, RLUSD, while also demonstrating its dedication to supporting educational initiatives. The addition of RLUSD to Gemini’s platform is a significant step in increasing the stablecoin’s reach and accessibility, potentially attracting more users and investors to the Ripple ecosystem. The donation to educational non-profits further solidifies Ripple’s role as a socially responsible corporate entity, aiming to make a positive impact beyond the financial sector.