Peter Thiel-Backed Crypto Exchange Adds Ripple’s USD Stablecoin

Bullish, an institutional crypto exchange supported by Peter Thiel, has launched the Ripple USD (RLUSD) stablecoin on its platform, as announced this Tuesday.

Users of the exchange will now have access to seven different trading pairs involving RLUSD, including RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD.

This stablecoin, which went live on December 17, follows months of anticipation after its initial announcement in April. Ripple released RLUSD to the public after securing essential regulatory approval from the New York State Department of Financial Services (NYDFS).

RLUSD has also been welcomed by other major exchanges. Most recently, it was listed by Independent Reserve, based in Singapore, after already being added to platforms like Bitso and Uphold.

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As of now, RLUSD boasts a market cap of $72.8 million, positioning it as the 691st largest cryptocurrency by market value.

Alexander Zdravkov