The announcement came on January 29, giving traders an additional option to use RLUSD as collateral for trading crypto pairs. This move aligns with Ripple’s broader strategy to expand its stablecoin reach across global exchanges.

Margex users can now trade RLUSD alongside other stablecoins like USDT, ensuring a more seamless and efficient trading experience. The exchange emphasizes that RLUSD will support fast and secure cross-border payments while providing traders with a hedge during volatile market conditions.

With this new addition, Margex continues enhancing its offerings to attract more crypto traders. The platform has also integrated TradingView charting tools, featuring over 100 technical indicators, 110 drawing tools, and 17 chart types. This upgrade enables traders to analyze real-time price movements with greater precision.

Are Coinbase and Binance Next?

Ripple’s leadership is pushing for RLUSD’s expansion to major exchanges, with executives like CEO Brad Garlinghouse and President Monica Long expecting a surge in demand for the stablecoin by 2025. The company is actively seeking listings on platforms such as Binance, Bybit, and Coinbase, aiming to establish RLUSD as a top-tier stablecoin.

Source: Monica Long via X

Jack McDonald, Ripple’s senior vice president overseeing stablecoin operations, remains optimistic about these potential partnerships. He acknowledged that while technical challenges exist, major platforms might reconsider their exclusive relationships in the future. “Coinbase, for example, clarified that it has no exclusive deal with USDC, as it supports a variety of stablecoins like PAX, GUSD, PYUSD, and USDT,” McDonald noted, highlighting the opportunity for RLUSD to enter Coinbase’s ecosystem.

The regulatory approval behind RLUSD adds to its credibility. As a New York Department of Financial Services (NYDFS)-regulated stablecoin, RLUSD is backed by a strong collateral structure, including U.S. dollar deposits, government bonds, and cash equivalents. The 1:1 peg with the U.S. dollar ensures stability and trust for both traders and institutions.

Bullish Dominates RLUSD Trading with 70% Volume

Margex isn’t the only exchange making waves with RLUSD. Institutional crypto exchange Bullish, backed by Peter Thiel, officially added RLUSD to its platform on December 24, 2024. The exchange now offers seven trading pairs, including RLUSD/USDC, BTC/RLUSD, and XRP/RLUSD, giving traders more flexibility.

Source: Bullish

Currently, Bullish commands over 70% of RLUSD’s trading volume, primarily through two key pairs: RLUSD/USD Coin and XRP/RLUSD. The stablecoin is also available on platforms like Bitstamp, Uphold, MoonPay, Bitso, CoinMena, and Mercado Bitcoin.

The Ondo Finance Partnership

Earlier this week we learned that Ripple has partnered with Ondo Finance to introduce tokenized U.S. Treasuries to the XRP Ledger (XRPL). This collaboration offers institutional investors access to Ondo’s Short-Term U.S. Government Treasuries (OUSG), backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). Investors can mint and redeem these tokens using Ripple’s USD-denominated stablecoin (RLUSD), providing a seamless and efficient process. It’s good news for XRP and Ripple.

This partnership aims to meet the growing demand for tokenized real-world assets (RWAs) by providing a compliant, yield-bearing product on a network designed for institutional adoption. The integration of OUSG into the XRPL is expected to go live within six months, offering institutional-grade security, accessible liquidity, and scalable decentralized blockchain technology. Both Ripple and Ondo Finance have secured commitments to seed OUSG liquidity upon deployment, driving further adoption of tokenized RWAs on the XRPL.

As Ripple strengthens its partnerships and listings, RLUSD is positioning itself as a strong contender in the stablecoin market. With Margex now supporting RLUSD and top executives forecasting more major exchange listings in the coming months, the adoption of stablecoin is set to accelerate.