Ripple officially introduced RLUSD, a US dollar-backed stablecoin, aiming to transform the digital payments landscape. Built to operate on the Ethereum blockchain and the XRP Ledger, RLUSD is poised to address the increasing demand for stable, cost-effective solutions in cross-border payments.
Ripple’s announcement has sparked considerable excitement within the cryptocurrency community, emphasizing the company’s ambition to expand its influence in the stablecoin market.
Currently, RLUSD is available on select cryptocurrency exchanges, including Uphold, Bitso, MoonPay, Archax, and CoinMENA. These platforms offer the possibility of public testing the stablecoin and thus allow users to determine its potential.
However, this is only the beginning; RLUSD is still not listed in Binance, the world’s largest cryptocurrency exchange, and Coinbase, the largest exchange in America. Such obvious omission invites questions about what might have culminated in RLUSD not getting placements on any of these major trading platforms.
Also Read: What is RLUSD? Everything You Need to Know About Ripple’s Stablecoin
Why is RLUSD not available on the world’s largest exchanges Binance and Coinbase?
Binance, a dominant player in the cryptocurrency space, has been facing heightened regulatory scrutiny in recent years. There seemed to be no legal action initiated for a long time, but recently, the US Securities and Exchange Commission (SEC) sued Binance for violating the securities laws of the United States.
To demonstrate regulatory noncompliance, the SEC said Binance enabled unregistered trading of crypto asset securities and provided the public with false and misleading information about the operational controls of Binance.US.
These accusations have compelled Binance to enforce strict compliance measures and reconsider the company’s business worldwide. The regulatory authorities globally are also paying much attention to Binance’s operations, which has been proving to be a hurdle for the company.
Therefore, these constant legal issues might be why RLUSD has not debuted on the Binance platform. This could have slowed the cooperation until the last minute because of additional requirements to comply and address regulatory issues for integrating new products such as RLUSD.
The exchange’s legal disputes have also reduced operational flexibility, limiting its willingness to take additional regulatory risks. Introducing a stablecoin like RLUSD could attract further scrutiny, making Binance cautious.
Coinbase, the US’s most prominent digital currency trading platform, struggles to adapt to the regulation clampdowns. The SEC has charged Coinbase with selling unauthorized crypto asset securities and not meeting the rules required for its staking services.
These allegations have put Coinbase in the middle of a legal drama as the companies battled to make the exchange more compliant with the specific regulations put in place by the authorities.
While RLUSD has recently been included in the list of available coins in Coinbase, stablecoin trading is yet to start. This partial listing points to the fact that Coinbase is not expanding recklessly owing to its legal woes.
Perhaps due to the scrutiny that the SEC has placed on Coinbase, especially regarding listing cryptocurrencies, Coinbase may have slowed down fully integrating RLUSD across its operations.
In this subject matter, the exchange is preoccupied with addressing its legal issues to ensure operational stability. This focus may hinder it from fully supporting new assets such as RLUSD, especially when new regulatory compliance is still substantial.
Read Also: Ripple’s RLUSD Stablecoin Promises New Era for Cross-Border Payments
Will RLUSD Ever List on Binance and Coinbase?
Could the regulatory challenges faced by Binance and Coinbase be the reason behind RLUSD’s absence from their platforms? Both exchanges are dealing with complex legal battles that have reshaped their priorities. Similarly, Coinbase’s ongoing disputes with the SEC may have influenced its decision to delay RLUSD trading.
Another reason to examine is the dynamic change of regulation concerning stablecoins, particularly those that have not received authorization from regulators, which may delay joining online platforms as authorities attempt to increase control over digital assets.
Ripple’s plan to make RLUSD the leading stablecoin might encounter further challenges if exchanges continue to avoid regulatory risks.
The possibility of RLUSD listing on Binance and Coinbase may depend on how these exchanges address their legal challenges and adapt to regulatory changes. Ripple’s ongoing efforts to expand RLUSD’s reach may also play a role in determining its availability on these platforms.
Conclusion
The launch of RLUSD marks a significant step in Ripple’s journey to revolutionize digital payments and cross-border transactions. Nevertheless, having passed its absence on Binance and Coinbase, it is possible to determine the presence of the regulation situation affecting the cryptocurrency market.
Currently, the two exchanges are engaged in legal processes to try to handle these legal issues; nevertheless, the future of RLUSD on these platforms is still in doubt. Only time will tell whether RLUSD will secure its place among the world’s most prominent cryptocurrency exchanges.
FAQs
What is RLUSD?
RLUSD is Ripple’s US dollar-backed stablecoin designed to facilitate efficient and cost-effective cross-border payments.
Where is RLUSD currently available?
RLUSD is available on Uphold, Bitso, MoonPay, Archax, and CoinMENA.
Why is RLUSD not available on Binance and Coinbase?
Both Binance and Coinbase are dealing with regulatory challenges that may delay or prevent the listing of RLUSD.
Will RLUSD eventually list on Binance and Coinbase?
The potential listing may depend on how Binance and Coinbase resolve their regulatory issues and adapt to market conditions.
What makes RLUSD different from other stablecoins?
RLUSD operates on the Ethereum blockchain and the XRP Ledger, offering flexibility and stability for cross-border payments.
Also Read: XDC Network (XDC) Price Prediction 2025-2029: Will XDC Price Hit $0.35 Soon?
