Ripple has taken another step into mainstream markets. The company’s USD-pegged stablecoin, RLUSD, is now live on Bybit, one of the world’s top crypto exchanges.
The listing expands RLUSD’s reach beyond its early launches on Bullish and Bitstamp. For traders, it adds a new liquidity option on Bybit’s high-leverage platform, where stablecoins serve as a core trading pair.
What RLUSD Brings to the Market
RLUSD is built for institutions. It is fully backed by USD deposits, U.S. government bonds, and cash equivalents. Ripple also provides monthly third-party attestations of reserves, a move designed to meet regulatory transparency standards.
Ripple CEO Brad Garlinghouse has framed RLUSD as more than just another stablecoin. He emphasized that Ripple chose the New York Department of Financial Services (NYDFS) regulatory framework to align with global compliance expectations.
This focus on oversight sets RLUSD apart in a crowded market where many issuers face regulatory uncertainty.
Why Bybit Matters
Bybit is among the top exchanges for derivatives trading. Its high-leverage environment makes stablecoins essential for managing risk and positioning. With RLUSD added, traders gain another fully regulated option to back trades.
More importantly, RLUSD pairs like XRP/RLUSD add utility to Ripple’s broader ecosystem. Analysts see this as liquidity-enhancing rather than competitive with XRP itself.
A significant number of RLUSD’s current trading volume is concentrated on Bullish. The Bybit listing spreads activity across more venues, which could strengthen overall liquidity.
Ripple’s Bigger Stablecoin Play
This launch is not just about one exchange. It is part of Ripple’s strategy to push RLUSD deeper into both DeFi and tokenized finance.
The stablecoin is positioned as a settlement tool for tokenized U.S. Treasuries and other real-world assets (RWAs). Ripple recently partnered with Ondo Finance to expand tokenized Treasury access. That move tied RLUSD to one of the fastest-growing areas of crypto.
The RWA market has now surpassed $30 billion onchain. BlackRock’s BUIDL fund and VanEck’s VBILL, both issued through Securitize, dominate the space. RLUSD aims to serve as a 24/7 liquidity option for these tokenized funds.
Jack McDonald, Ripple’s SVP of Stablecoins, called this “a natural next step as we continue to bridge traditional finance and crypto.”
The Broader Stablecoin Landscape
Stablecoins remain one of the most used tools in digital assets. They serve as both a trading base and a payment mechanism.
RLUSD enters a market led by Tether (USDT) and USD Coin (USDC). According to CoinMarketCap, USDT holds a market cap of more than $170 billion, while USDC sits at $73.7 billion. Ripple is betting that its enterprise-grade compliance and institutional positioning can carve out a sustainable niche.
The company is also leaning on its payments network. With global partners already using XRP for cross-border transfers, RLUSD offers a more stable counterpart in settlement.
Analyst View: Integration, Not Disruption
Market analysts see Ripple’s move as integration rather than disruption. RLUSD is unlikely to compete with XRP in price action. Instead, it boosts utility by enabling new pairs and acting as a liquidity enhancer.
However, they caution that short-term impact may be limited. With crypto markets still volatile, demand for new stablecoins tends to be gradual. Early benefits may stay within Ripple-linked assets and DeFi platforms experimenting with RLUSD.
Long term, the story is different. As stablecoin regulation becomes clearer and RWAs expand, RLUSD could find itself at the center of institutional adoption.
Ripple is betting on a 2025 surge in demand for compliant stablecoins. With real-world assets already topping $30 billion, the company sees a clear path for RLUSD to become a settlement currency for tokenized bonds, funds, and yield-bearing products.
BlackRock and VanEck have shown there is appetite for tokenized Treasuries. Ripple wants to be the stablecoin that fuels trading around these products.
The Bybit listing is one more step in that direction. It brings RLUSD into a trader-heavy environment, expands its liquidity footprint, and signals Ripple’s intent to be a top-tier player in stablecoins.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
