Ripple has announced that its RLUSD stablecoin has been launched on cryptocurrency exchange Kraken and has also been integrated into its payments platform. The development comes as the stablecoin market continues to heat up as U.S. lawmakers push for regulatory clarity.
The company confirmed in a statement that RLUSD is now being used for cross-border payments through its main payment solution. Select clients, including cross-border payment providers BKK Forex and iSend, are leveraging RLUSD to enhance their treasury operations.
“Ripple has enabled RLUSD cross-border payments in its main payment solution,” the company said, adding: “RLUSD is used in payment flows with select customers to improve cross-border treasury operations.”
Since its launch in December, RLUSD’s market cap has surpassed $240 million, indicating growing adoption. Jack McDonald, SVP of Stablecoins at Ripple, highlighted the stablecoin’s expanding use cases.
“We see market cap continuing to grow,” McDonald said. “RLUSD is used for a number of use cases, including use as collateral in both crypto and traditional financial trading markets.”
*This is not investment advice.
