Kraken Lists Ripple’s RLUSD, Marks Over $10B in Trading Volume

In a significant move for the cryptocurrency market, Kraken has listed Ripple’s stablecoin RLUSD, joining a growing list of exchanges supporting the digital asset. The listing has already seen the stablecoin surpass $10 billion in cumulative trading volume, highlighting its rapid adoption and growing popularity.

Ripple’s RLUSD Debuts on Kraken, Surpasses $10B in Volume

Ripple’s stablecoin RLUSD has debuted on Kraken, joining Archax, Bitso, and Bitstamp. The stablecoin has already processed over $10 billion in cumulative trading volume, indicating significant momentum. Kraken users can now deposit Ripple USD by heading to the funding tab on their account and selecting RLUSD. However, users cannot access RLUSD through their mobile Kraken application yet. The exchange mentioned that the stablecoin is fully backed by a reserve of cash and cash equivalents, redeemable 1:1 for USD, and suitable for financial operations such as payments, global settlements, on/off ramping, and trading collateral.

Ripple’s RLUSD Stablecoin Nears $250M Market Cap

Ripple’s new stablecoin, RLUSD, has seen its market cap grow fivefold in less than a month, with nearly $300 million worth in circulation. Launched in December 2022, RLUSD aims to strengthen Ripple’s blockchain ecosystem by facilitating dollar-pegged payments. RLUSD fits into Ripple’s mission of becoming a leading cross-border payments platform. Recently, the stablecoin was listed on Kraken, a large crypto exchange. Despite this positive news, the market sold off after President Trump announced new retaliatory tariffs.