RLUSD, the Ripple stablecoin, secures a listing on its first Singapore-based crypto exchange, Independent Reserve, as the platform gives its users access to the asset.
In the latest Ripple news today, the Ripple stablecoin RLUSD has officially launched on a major Asian exchange. Per Tuesday noticeSingapore users can now purchase the stablecoin and use it for pairs trading and cross-border payments.
Independent Reserve announced that it is the first exchange in Singapore to make the newly launched stablecoin available to users in the region. The exchange said it allowed the use of RLUSD on its platform on December 22nd.
RLUSD debuts in Singapore
Independent Reserve, which holds the position of the first licensed exchange in Singapore, said it is offering the RLUSD stablecoin on its order book and over-the-counter (OTC). This allows users to leverage the asset’s full potential for trading and seamless cross-border payments.
Independent Reserve customers can buy and sell RLUSD on the order books using the Singapore Dollar (SGD) or the US Dollar (USD). The options allow users to conveniently purchase the XRPL-based stablecoin on the exchange.
Recall that Ripple has confirmed that the stablecoin will initially be launched on five exchanges, with planned support later on additional exchanges such as Independent Reserve. Brad Garlinghouse, CEO of Ripple mentioned earlier that the Ripple stablecoin would later begin trading on Independent Reserve, Bullish and Bitstamp.
Who Ripple integration?
Notably, Ripple has yet to integrate RLUSD into its cross-border payments business. This means that retail traders have primarily driven the trading volume of…