Ripple plans to promote RLUSD stablecoin to more exchanges

Ripple's senior vice president of stablecoins, Jack McDonald, revealed that the company is planning to list its dollar-pegged stablecoin RLUSD on more exchanges, including Coinbase in the United States. McDonald said that promoting RLUSD to be listed on exchanges involves complex technical processes, including supporting different blockchains and their assets. In addition, he mentioned that some exchanges have economic partnerships with specific stablecoins, such as Coinbase with USDC and Binance with FDUSD, but he believes that Coinbase may gradually expand the range of stablecoins supported. Currently, Coinbase already supports a variety of stablecoins such as USDC, PAX, GUSD, PYUSD and USDT. McDonald expects that more exchanges will support RLUSD by the end of 2025. He also pointed out that the stablecoin market will be dominated by issuers with institutional support and compliance capabilities in the future, while small issuers will face challenges due to high compliance costs. This week, Bitstamp announced support for RLUSD, a stablecoin that was launched on Ethereum and XRP Ledger last month and approved by the New York State Department of Financial Services (NYDFS). (The Block)