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Ripple has expanded the reach of its RLUSD stablecoin through new integrations with crypto exchange OKX and institutional trading platform Bullish, extending its use across spot trading, derivatives, and options markets.
Reports say RLUSD is now available for spot trading on OKX across more than 280 trading pairs. The integration also enables RLUSD to be used as margin collateral for derivatives, including perpetual futures where supported.
The partnership with OKX allows traders to access RLUSD through the exchange’s unified order book. This structure is designed to let users trade and deploy the stablecoin across both spot and derivatives markets without transferring funds between separate accounts.
Deposits and withdrawals are supported through the XRP Ledger, with minting and redemption mechanisms intended to maintain liquidity. OKX also said its platform serves more than 120 million users globally, providing a broad base for RLUSD adoption.
Ripple said demand for RLUSD has been rising among both crypto-native participants and institutional users, particularly for use as collateral in leveraged trading strategies.
Ripple has also expanded RLUSD’s role through its partnership with Bullish, where the stablecoin is integrated into Bitcoin options trading for Ripple Prime clients.
The integration allows institutional users to access crypto-settled Bitcoin options markets while using RLUSD as collateral. Ripple Prime clients can manage positions within a single account, according to the report.
Bullish’s options trading platform for Bitcoin derivatives is measured by open interest. The addition of RLUSD provides another collateral option for institutions seeking to manage exposure across different digital asset products.
The partnership also includes plans for cross-venue margin functionality, which would allow users to manage collateral across exchanges and over-the-counter desks to streamline trading operations across multiple platforms.
Alongside the exchange and platform integrations, RLUSD has recorded an increase in on-chain activity. Data from the XRP Ledger showed that more than 118 million RLUSD tokens were minted and burned within 24 hours toward the end of April, including a burn of over 59 million tokens alongside matching mint operations.
The report notes that this pattern has appeared during month-end periods, suggesting structured treasury management rather than irregular transactions.
RLUSD, launched in December 2024, has reached a market capitalization of over $1.6 billion.
Beyond trading, RLUSD has been tested for cross-border remittances by K Bank, a digital banking platform in South Korea, with a focus on faster settlement and lower transaction costs.
RLUSD has also been integrated into a cross-chain bridge enabling transfers between the XRP Ledger and other networks, including Ethereum and Cardano, aiming to extend the token’s usability across multiple blockchain ecosystems.
Ripple said RLUSD operates under regulatory approvals from the NYDFS and DFSA in the United States and international jurisdictions, respectively, supporting its positioning as a compliant digital dollar alternative.
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