Bitget, a major cryptocurrency exchange based in Hong Kong, had broadened its support for Ripple’s newly introduced stablecoin, RLUSD, by launching additional trading pairs. This move comes roughly a week after the platform initially began supporting stablecoin.
Originally listed on May 29, RLUSD debuted on Bitget with two trading pairs: RLUSD/USDT and RLUSD/USDC, enabling users to trade Ripple’s dollar-pegged asset against stablecoins issued by Tether and Circle.
Building on the momentum, Bitget has now activated three more trading options involving RLUSD. Trading pairs such as BTC/RLUSD, ETH/RLUSD and XRP/RLUSD are available, so people can trade Bitcoin, Ethereum and XRP with RLUSD.
RLUSD which started in December 2024 by Ripple Labs, currently has a market cap of about $369.68 million and is listed as the 215th ranking cryptocurrency on CoinMarketCap. At the moment, the maximum number of RLUSD is 369.74 million.
It is important to mention that on May 14, Ripple used the RLUSD token for its last activity by burning almost 4 million tokens. On the same day, the company generated 15 million new RLUSD and destroyed the same 15 million to maintain the equilibrium in the market.
No new minting of RLUSD has taken place since mid-May which shows that demand is currently matching supply.
Also Read: Stablecoin Issuer Circle Goes Public on NYSE with CRCL Ticker
