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Ripple’s new product – the recently launched stablecoin RLUSD – has scored a new listing. It has been added by the major US-based cryptocurrency exchange founded by the Winklevoss twins, Tyler and Cameron, in October 2014 – Gemini.
RLUSD now supported by Gemini
This news was announced by Ripple’s senior executive, managing director for Middle East & Africa, Reece Merrick, on his social media account.
Ripple USD (RLUSD) was launched on the mainnet in early December 2024. The new stablecoin is being minted on two blockchains – XRP Ledger and Ethereum. The latter has so far been used more frequently for releasing RLUSD.
Soon after the launch, several major exchanges, including Bullish and Bitstamp, listed RLUSD. In the middle of March, LMAX Digital also added support for it. Now, the turn has come for Gemini to add support for RLUSD.
Ripple donates $25 million in RLUSD to support US education
As covered by U.Today earlier, on Monday, the Ripple behemoth announced that it had chosen to support two big US educational non-profit organizations – DonorsChoose and Teach For America – by donating RLUSD worth $25 million.
Ripple CEO Brad Garlinghouse commented on that move, stating that Ripple has partnered with the aforementioned organizations “to benefit thousands of classrooms across the US.” This took place during Teacher Appreciation Week, and Garlinghouse hopes that this move of Ripple will inspire other large companies to follow suit. This donation will also help to fund “thousands of classroom projects and teacher requests,” Ripple’s blog post says.
CEO of Teach For America, Aneesh Sohoni, reacted by saying that this funding “will expand our Ignite Tutoring Fellows program, drive innovation in our Reinvention Lab, and provide crucial financial assistance to thousands of new corps members during their teacher preparation.”
Zero RLUSD minted since April 25
The last time Ripple Treasury minted a new batch of RLUSD stablecoins was last month, on April 25. On that day, according to the data shared by the Ripple Stablecoin Tracker account on X, three batches were minted containing 11,500,000 RLUSD, 11,500,000 RLUSD, and 15,000,000 RLUSD.
15,000,000 RLUSD were also burned on the same day. Since then, Ripple has so far created zero stablecoins. Currently, according to CoinMarketCap, 317.04 million RLUSD are circulating in the market.
Vladislav Sopov