TL;DR
- Ripple has partnered with Revolut and Zero Hash to enhance the accessibility of its fiat-backed stablecoin, RLUSD, and challenge the dominance of USDT and USDC.
- The collaboration will enable seamless trading of RLUSD across various markets, leveraging Revolut’s 50 million customers and Zero Hash’s robust financial infrastructure.
- The partnerships aim to boost RLUSD’s market presence, drive demand for XRP, and position Ripple as a competitive player in the stablecoin landscape.
Ripple has announced a strategic partnership to enhance the accessibility of its fiat-backed stablecoin, Ripple USD (RLUSD). The collaboration with Revolut, a London-based fintech company, and Zero Hash, a Chicago-based financial infrastructure provider, aims to expand the reach of RLUSD and challenge the market dominance of other stablecoins like USDT and USDC.
🚨 New partner alert: Ripple USD – a trusted, transparent, and regulated stablecoin built for payments – is now available for trading on @ZeroHashX and @RevolutApp!
Get $RLUSD: https://t.co/jrEiNBWKgN pic.twitter.com/36q5OU5xfa
— Ripple (@Ripple) February 5, 2025
Airdrop Details
The partnership will allow RLUSD to be listed for seamless trading across various markets, leveraging the extensive networks of both Revolut and Zero Hash. Revolut, with over 50 million customers globally, and Zero Hash, known for its robust financial infrastructure services, will enable broader adoption of RLUSD on the XRP Ledger and Ethereum networks.
Edward Woodford, Founder and CEO of Zero Hash, stated, “The addition of RLUSD to our ecosystem demonstrates Zero Hash’s commitment to providing our customers with access to the most innovative and regulated stablecoin technologies.”
RLUSD’s Market Impact
Since its launch, RLUSD has shown substantial growth, boasting a fully diluted valuation of over $108 million and an average 24-hour trading volume of approximately $207 million. Despite its promising start, RLUSD faces stiff competition from established stablecoins like Tether (USDT) and Circle’s USD Coin (USDC), which currently dominate the market.
The strategic partnerships with Revolut and Zero Hash are expected to boost RLUSD’s user base and enhance its market presence. These collaborations will facilitate easier access to RLUSD for a diverse range of users, including individual traders and institutional investors.
Future Outlook
The integration of RLUSD with Revolut and Zero Hash is anticipated to have long-term positive effects on the XRP Ledger’s on-chain activity. Increased usage of RLUSD is expected to drive up demand for XRP, the native cryptocurrency of the XRPL.
With these partnerships, Ripple is positioning RLUSD as a competitive alternative to existing stablecoins, leveraging its technological capabilities and extensive network of partners. The company’s focus on regulatory compliance and innovation will likely play a crucial role in RLUSD’s future success.
Ripple’s collaboration with Revolut and Zero Hash marks a significant milestone in the expansion of RLUSD’s accessibility and adoption. As RLUSD continues to grow, it aims to challenge the market leaders and establish itself as a prominent player in the stablecoin landscape.
