Popular crypto exchange Gemini has added Ripple’s stablecoin RLUSD for trading, deposits, and withdrawals. The move comes after Gemini released a cryptic message in which a stylized sentence pointed at the letters R, L, U, S, D in the XRP community.
The listing is a significant development in RLUSD’s increasing popularity. It is currently listed on 15 exchanges, such as Bitstamp, Uphold, Revolut, Bullish, Coinmena, and others. Thus, with Gemini on its side, RLUSD is expanding its coverage of the global audience and can be used for payments, trading, and cross-border financial operations.
Ripple is already using RLUSD for real-life purposes, and it is doing it quite actively. On May 5, the company donated 25 million US dollars worth of RLUSD to the United States public education.
The funds will be provided through DonorsChoose and Teach For America and will provide schools in low-income communities with supplies, technology, and teachers. According to Ripple, this donation was made with the aim of promoting financial literacy as well as equal opportunities.
RLUSD is also being widely used at the institutional level. Ripple has incorporated the stablecoin into the Ripple Payments network through which it assists in facilitating cross-border transactions for some of its clients.
In April, Ripple bought the prime brokerage firm Hidden Road for $1.25 billion. In trading and settlement activities, RLUSD will be utilized as collateral in the firm. In this way, Ripple is placing its stablecoin into both consumer and institutional finance, which will make it one of the key players in the future of digital assets.
New listings and practical applications of RLUSD are not only making it a stablecoin but also a valuable financial instrument.
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