Amid the rapid expansion of Ripple’s ecosystem, stablecoin RLUSD continues to strengthen its status as a bridge between traditional assets and the crypto market. One of the notable developments in recent hours is the launch on the Bitrue exchange of unique trading pairs RLUSD against PAXG and XAUT.
For those unfamiliar, these tokens represent tokenized gold issued by Paxos and Tether — the issuer of USDT — respectively.
How Deloitte audits and $29 million Binance volume fuel RLUSD’s gold expansion
The success of integration with gold-backed tokens is supported by a strong foundation. The liquidity that RLUSD has already accumulated on major global platforms, according to CoinMarketCap data, currently shows Binance as the main liquidity hub for the dollar stablecoin, where the RLUSD/USDT pair generates more than $29.3 million in daily volume, accounting for about 10% of the total RLUSD volume.
On the decentralized level, Uniswap V3 shows an impressive $9.43 million in volume for the RLUSD/USDC pair. Meanwhile, Curve Finance pools hold RLUSD liquidity worth $7.47 million, which also indicates the deep integration of RLUSD into the Ethereum ecosystem, where currently more than half of the total stablecoin supply circulates.
You Might Also Like
It is likely that the strong trading metrics and the launch of new pairs almost every week, this time with tokenized gold, have been enabled by the transparency of RLUSD confirmed by recent audits.
On April 2, Deloitte published a new report stating that the reserves of Ripple’s USD stablecoin amount to $1.56 billion, fully and even exceeding the market supply of $1.49 billion tokens.
Alongside exchange expansion, since the beginning of this month, payments giant Convera has started integrating RLUSD into its B2B channels with a turnover of $170 billion, further reinforcing sustained organic demand for the stablecoin beyond the speculative crypto market.
Be the first to comment