Bullish, an institutional cryptocurrency exchange backed by Peter Thiel, has officially added the Ripple USD (RLUSD) stablecoin, according to a Tuesday announcement.
The exchange's users will not be able to trade a total of seven markets with the hotly anticipated stablecoin. These markets include RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD and SOL/RLUSD.
As reported by U.Today, the much-talked-about stablecoin officially went live on Dec. 17 after initially being announced in April. Ripple made the stablecoin available for the general public shortly after it obtained crucial regulatory approval from the New York State Department of Financial Services (NYDFS).
Earlier today, the stablecoin was also listed by Singapore-based exchange Independent Reserve.
Prior to that, the stablecoin also secured listings on such trading platforms as Bitso and Uphold.
According to data provided by CoinGecko, RLUSD currently has a market cap of $72.8 million, which currently makes it the 691st biggest cryptocurrency by market capitalization. Over the past 24 hours, it generated a relatively modest trading volume of $2.7 million.
Alex DovbnyaOver the past 24 hours, roughly 1.5 million additional RLUSD tokens were minted by Ripple, according to data provided by the Ripple Stablecoin Tracker account.
Ripple CEO Brad Garlinghouse previously claimed that the token would be the "gold standard" for enterprise-grade stablecoin products. The company's executives have repeatedly highlighted the fact that the stablecoin offers a high level of regulatory compliance.
The Bullish listing was initially announced by Garlinghouse on Dec. 16. Bitstamp, the leading European cryptocurrency exchange, is also expected to add support for the token.
Dan Burgin