Binance has announced it will list Ripple stablecoin RLUSD (Ripple USD), CoinPost reported on Wednesday.
Three spot trading pairs — RLUSD/USDT, RLUSD/USDC and XRP/RLUSD — will be available for trading from Jan. 21. Deposits are available immediately and withdrawals will be supported from Jan. 23. Binance will add RLUSD as a portfolio margin asset and include it in Binance Earn products.
RLUSD is a U.S. dollar-based stablecoin issued by Ripple subsidiary Standard Custody & Trust Company. Each token is fully backed 100 percent by U.S. dollars of equal value and cash-equivalent assets. RLUSD is designed for cross-border payments and aims to provide access to a stable digital dollar. Ripple announced in December last year it would deploy RLUSD on an Ethereum layer-2 network, and it is currently being tested on Optimism, Base, Ink and Unichain.
Jack McDonald (잭 맥도날드), senior vice president of Ripple’s stablecoin division, said, "RLUSD will be a gateway for DeFi and institutional investors, and is designed to allow users to easily participate in the digital asset economy."