Gemini Exchange Lists Ripple's RLUSD Stablecoin for Trading

Gemini, a renowned cryptocurrency exchange, has commenced trading, deposits, and withdrawals for Ripple’s (CRYPTO:RPL) RLUSD stablecoin. This move by Gemini, the 15th crypto exchange to list RLUSD, follows a series of listings by other platforms and marks a significant step in expanding stablecoin adoption.

Earlier this year, Uphold, Bitstamp, Revolut, and Coinmena listed RLUSD, aiming to provide greater access to efficient cross-border payments, trading, and daily financial transactions.

Institutions prefer RLUSD for its stability in value, typically linked to a major currency like the U.S. dollar, and its use in varied financial services.

As part of its broader strategy, Ripple uses RLUSD in its business operations to power cross-border payments on its Ripple Payments network. The integration of the stablecoin enables Ripple to leverage global financial services to help businesses manage their treasury operations effectively.

In other news, Ripple is making a substantial donation of $25 million in RLUSD to U.S. public education. The contribution will go to educational nonprofit organizations such as DonorsChoose and Teach For America.

The initiative aims to provide essential resources such as digital equipment and school supplies for underserved classrooms.

DonorsChoose focuses on funding teachers' classroom projects in low-income communities, while Teach For America places highly skilled individuals in classrooms serving students in underserved communities.

The contribution will also support organizations that empower girls in STEM fields.

Earlier this year, Ripple purchased Hidden Road, a prime brokerage company, for $1.25 billion. The firm intends to utilize RLUSD as collateral for trading and settlements across the operations of institutional clients, which further integrates the stablecoin in mainstream finance.

Gemini’s listing of the RLUSD stablecoin follows a cryptic social media message from the firm that hinted at the addition. The XRP community and some analysts quickly interpreted the stylized capitalization pattern in the Ripple post to refer to RLUSD.

Although Gemini did not react to the cryptic post, it listed RLUSD shortly after, which marks a major step for the stablecoin.

As interest in stablecoins continues to grow in the digital asset space, Ripple is expanding the use cases for RLUSD.

RLUSD’s integration in Ripple’s enterprise services enhances the efficiency and speed of cross-border transactions. Moreover, it demonstrates Ripple’s commitment to adapting to the shift in stablecoin regulations as well as strengthening the position of RLUSD in digital finance.

The contribution to U.S. classrooms through DonorsChoose, Teach For America, and organizations empowering girls in STEM showcases RLUSD’s applications in charitable initiatives.

The increased adoption of RLUSD in various global economic sectors bodes well for the future of stablecoins as they play an increasingly vital role in bridging the gap between fiat currencies and cryptocurrencies.

The post Gemini Lists Ripple’s (RPL) RLUSD Stablecoin for Trading – 15th Exchange to Add the Coin appeared first on Crypto News Net.