Ripple President Monica Long announced the company's plans to expand the presence of the Ripple USD (RLUSD) stablecoin on major exchanges. Since its launch on December 17, RLUSD is already available on the CoinMENA, Bitso, Uphold, MoonPay, and Archax platforms, as well as Mercado Bitcoin and Independent Reserve. Long also promised that Binance and Coinbase will soon list it.
Long emphasized that as the cryptocurrency market grows, the demand for stablecoins increases, which provide faster and more cost-effective payments. RLUSD plays a key role in Ripple's solutions for international transfers.
She also expressed optimism regarding the emergence of spot exchange-traded funds (ETFs) tied to XRP in the U.S. Companies Canary Capital, Bitwise, 21Shares, and WisdomTree have already submitted relevant applications to the U.S. Securities and Exchange Commission (SEC). Long hopes that under the leadership of the new SEC chair Gary Gensler, who supports cryptocurrencies, these initiatives will be approved.
In the last 24 hours, the trading volume of RLUSD increased by 244%, reaching $80.21 million, while the market capitalization is $53.1 million.
Earlier, Long suggested that large financial institutions would actively integrate Ripple's blockchain solutions due to low fees and high transaction speeds. She also stated that the crypto winter would not hinder the company's business development.