Ripple’s RLUSD Surges 15% After Gemini Listing
1min read Gemini Exchange has officially listed Ripple’s stablecoin rlusd for trading, deposits, and withdrawals. This move marks a significant milestone for RLUSD, as Gemini becomes the 15th exchange to support the asset. The listing was preceded by a cryptic acrostic message from Gemini that hinted at the upcoming addition, generating excitement within the XRP community.
Following the announcement, RLUSD experienced a surge in trading activity, with its 24-hour trading volume increasing by 15%. This surge indicates growing interest and adoption among both retail users and institutional investors.
In addition to the Gemini listing, Ripple has been making strategic moves to integrate RLUSD into its ecosystem. On May 5, Ripple donated $25 million in RLUSD to support public education in the U.S. through DonorsChoose and Teach For America. This initiative aims to provide underserved classrooms with essential supplies and technology, aligning with Ripple’s mission to connect its digital assets with real-world applications.
Ripple is also enhancing its enterprise-grade Ripple Payments product by incorporating RLUSD for cross-border transactions. Furthermore, Ripple acquired Hidden Road, a prime brokerage, for $1.25 billion, with plans to utilize RLUSD as collateral in institutional settlement services.
Ask Aime: What ripple effects will RLUSD gain from Gemini's listing?
RLUSD is now available on 15 exchanges globally, including Gemini, Bitstamp, Uphold, and Revolut. This widespread availability makes it more accessible for users to buy, trade, and utilize the stablecoin.
The regulatory landscape for stablecoins in the U.S. remains uncertain. The GENIUS Act, which aimed to establish rules for stablecoins, is facing challenges due to concerns over safety and fraud prevention. Additionally, controversy surrounding a Trump-linked stablecoin deal in Dubai has further complicated the situation, potentially delaying the vote and necessitating revisions to the bill.
