The post Ripple RLUSD Stablecoin Goes Live on Singapore’s Major Exchange appeared first on Coinpedia Fintech News Ripple’s RLUSD stablecoin has officially launched in Singapore , marking a significant milestone in its journey. The stablecoin went live on December 22, 2024, on Independent Reserve (IR), a licensed exchange in Singapore. This is the first time RLUSD is available on a Singapore-based exchange, and it’s already making waves. The stablecoin can now be traded against both the Singapore dollar (SGD) and the US dollar (USD), opening up new opportunities for both traders and businesses in the region. Ripple Partnership with IR This launch is not just another addition to the growing list of stablecoins. It highlights Ripple’s strategic partnership with Independent Reserve, which has been a key player in the Asian crypto market . The CEO of Independent Reserve, Lasanka Perera, mentioned that RLUSD is an important addition to the global crypto market . It offers better liquidity and is designed to meet the growing need for stable digital currencies that can be used for cross-border payments and decentralized finance (DeFi). Independent Reserve is the first #crypto exchange in #Singapore to list #stablecoin Ripple USD (RLUSD)! IR #SG customers can trade #RLUSD in #SGD & #USD on our order book and OTC desk. Learn more here: https://t.co/08z1Asdl3q pic.twitter.com/ZM1zHW6OJd — Independent Reserve (@indepreserve) December 24, 2024 With RLUSD listed on both the exchange’s order book and over-the-counter (OTC) desk, users can easily buy and sell the stablecoin. RLUSD Compaibitly With XRP & ETH One of the standout features of RLUSD is its compatibility with two major blockchain networks, XRP Ledger and Ethereum. This dual issuance allows allows Ripple to take advantage of Ethereum’s large DeFi market, while also benefiting from XRP’s fast and efficient system for international transactions. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : XRP Price Prediction For December 24 , Market Reaction For RLUSD RLUSD’s official launch comes just a week after its global debut on December 16 , 2024, and it’s already having a noticeable effect on the market. XRP, Ripple’s native cryptocurrency, rose 2% to $2.23, showing positive sentiment among investors. The growing interest from XRP whales—large investors—can be seen in the increase in XRP Futures open interest. This suggests that big players in the market are paying attention to Ripple’s move. 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updateSubscriptionButton(); } } }); FAQs What is RLUSD and how does it work? RLUSD is Ripple’s stablecoin, pegged to the US Dollar, offering liquidity and cross-border payment solutions on XRP and Ethereum blockchains. How is RLUSD different from other stablecoins? RLUSD is compatible with both XRP Ledger and Ethereum, enabling fast transactions and decentralized finance (DeFi) integration. Where can I trade RLUSD? RLUSD is now available on Independent Reserve in Singapore, where it can be traded against SGD and USD, both on the order book and OTC desk
