Stablecoin Tsunami: RLUSD Drowns Kraken in $10B Wave 🌊💸

by

RLUSD has swum into the crypto seas of Kraken, its $10 billion volume a testament to its deep-sea dominance. A market cap of $250 million? Just a drop in the ocean for Ripple‘s stablecoin.

Oh, the joyous day! Kraken, that grand crypto Leviathan, has embraced Ripple USD (RLUSD) into its digital depths. As of 16:00 UTC on April 2, the trading of this USD-pegged token commenced, and Kraken couldn’t help but shout from the digital rooftops:

“RLUSD has joined our watery realm! Come, one and all, to trade and marvel!”

Adventurous users may now dive into the funding tab of their Kraken accounts, select RLUSD, and embark on a deposit journey across supported networks.

RLUSD, Ripple’s answer to the siren call for regulated digital dollars, is fully backed by a treasure chest of cash and cash equivalents. Kraken describes it thusly: “A stablecoin of the seas, natively issued on the XRP Ledger and Ethereum blockchains. It promises a 1:1 redemption for USD, perfect for those who wish to navigate the treacherous waters of enterprise-grade payments and financial use cases.”

Alas, those seeking to trade RLUSD via Kraken’s mobile app or Instant Buy feature must wait until the liquidity sea is calm enough for smooth sailing. Kraken, ever the enigmatic lighthouse, keeps its future listings shrouded in fog.

RLUSD is not confined to Kraken’s waters alone; it now swims through the likes of Archax, Bitso, Bitstamp, and more, a stablecoin of many ports.

On March 2, Ripple beamed with pride as its stablecoin continued to grow, now fully integrated into Ripple Payments. RLUSD is not just a pretty fish; it’s being used for grand endeavors like enterprise transactions, asset tokenization, and decentralized finance (DeFi) applications. With a market cap nearing $250 million and over $10 billion in cumulative trading volume, RLUSD is truly a beast of the deep.

Read More

2025-04-03 03:27