Binance Lists Ripple USD (RLUSD) on XRP Ledger, Opens Deposits as Stablecoin Race Heats Up
Key Takeaways:Binance Activates RLUSD Deposits on XRP NetworkLiquidity Comes First Before Withdrawals Go LiveRLUSD Integration Signals XRP Ledger Expansion
Ripple payment plans are strongly associated with RLUSD, which is a dollar-backed stablecoin. Listing on such a large exchange as Binance exposes RLUSD to an even larger audience than in its own niche. It can attract traders desiring to trade in the stablecoin on faster settlement rails than standard ones.
The schedule is also an indicator of the growing competition among the stablecoins as platforms are no longer controlled by a single issuer. Exchanges are hoarding compliant-promising options as dollar-backed token regulation looks even more restrictive.
Having RLUSD on the stack of Binance has the potential to increase the usage of the XRP ledger in retail payments. Stablecoins also serve as the primary liquidity instrument to trade, money-sending, and DeFi, so when you notice an integration, most likely it will lead to more entrenched collaborations. Binance does not establish a time frame when the withdrawals will be done; they are waiting when liquidity increases rather than on a specific calendar date.
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