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On September 25, Bybit, one of the world’s largest cryptocurrency exchanges, officially listed the Ripple USD-backed stablecoin (RLUSD). This inclusion gives traders direct access to Ripple’s stablecoin across multiple markets.
This move not only expands RLUSD’s global presence but also reinforces Ripple’s efforts to bridge the gap between traditional finance and DeFi. Additionally, the ability to deposit and withdraw on both Ethereum and the XRP Ledger offers users greater flexibility and convenience than ever before.
Ripple’s USD-backed stablecoin is now available on Bybit with multiple trading pairs, including RLUSD/USDT, RLUSD/ETH, RLUSD/BTC, RLUSD/MNT, and RLUSD/XRP. This expansion allows traders to move seamlessly between crypto assets and tokenized yield-bearing funds, enhancing RLUSD’s real-world use cases. However, availability may vary depending on local regulatory conditions.
Bybit is one of the major players in the global crypto exchange industry, and its support further strengthens Ripple’s stablecoin vision. By providing direct access to Ripple’s USD-backed stablecoin, the exchange reinforces investor confidence in RLUSD as a reliable bridge between TradFi and DeFi. In addition, this listing enhances liquidity, a key factor for institutional adoption.
Ripple’s USD-backed stablecoin has become increasingly popular since its launch in December 2024. RLUSD is currently the 90th largest cryptocurrency with a market cap of approximately $789.5 million, according to CoinMarketCap. Its listing on various platforms in less than a year demonstrates growing demand and market confidence.
In addition to Bybit, Ripple’s USD-backed stablecoin has already been listed on major platforms such as Bullish, Kraken, Bitstamp, and Gemini. When Gemini—the Winklevoss twins’ exchange in the US—listed RLUSD in May 2025, its trading volume increased significantly. These listings reflect that RLUSD is rapidly gaining popularity not only in the US but also in global markets.
Margex, a high-leverage trading platform, was among the first to adopt RLUSD. On January 29, 2025, Margex approved Ripple’s USD-backed stablecoin as collateral for trading various crypto pairs. This decision highlighted the flexibility of RLUSD and attracted traders looking for a stable and liquid asset for leveraged positions.
Experts believe that the listing on Bybit could further accelerate the adoption of RLUSD.
According to crypto analyst David Chen, The inclusion of Ripple’s USD-backed stablecoin on Bybit is a strong signal of institutional trust.
As more exchanges list RLUSD, liquidity and stability in the market are likely to improve.
Blockchain researcher Linda Park said, Stablecoins backed by trusted issuers like Ripple could revolutionize cross-border payments, and RLUSD is positioned to play a key role in this transformation.
As RLUSD moves up the rankings, the market is now eyeing potential listings on Binance and Coinbase. Experts say Bybit’s listing could force these major exchanges to take action as well. If Binance or Coinbase were to add Ripple’s USD-backed stablecoin, RLUSD’s liquidity and global adoption could increase significantly.
Ripple has developed RLUSD as part of its long-term strategy to bridge the gap between blockchain and traditional finance. This USD-backed stablecoin, running on Ethereum and the XRP Ledger, combines the performance of blockchain with the stability of the dollar.
Its listing on Bybit aligns with Ripple’s larger goal of expanding the real-world use of stablecoins beyond trading to payments and remittances.
Going forward, the success of Ripple’s USD-backed stablecoin will depend on exchange support, regulatory clarity, and user adoption.
The listing on Bybit is a significant milestone on this journey, but market participants expect further growth to come as institutional and retail interest increases.
As crypto investor Mark Johnson put it: “The growing presence of RLUSD is a sign that stablecoins are becoming more than just a trend, but a fundamental pillar of the digital economy.”
