Key Takeaways:
Upbit, South Korea's largest crypto exchange, listed Ripple's RLUSD stablecoin on July 28, adding three trading pairs.
Ripple's U.S. dollar stablecoin RLUSD began trading on Upbit, South Korea's largest exchange by volume, in KRW, BTC and USDT markets as the company pushes its regulated stablecoin into Asian institutional corridors.
"RLUSD is infrastructure for enterprise payment and treasury workflows, not a market share play," Ripple SVP Jack McDonald told Grayscale Research in a recent interview, describing the stablecoin's role in Ripple's broader institutional platform.
The listing follows Ripple's receipt of a MiCA authorization from Luxembourg's CSSF regulator and expanded permissions from Singapore's MAS, giving the company passporting rights across the European Economic Area and wider scope for XRP and RLUSD services in Asia. Ripple holds more than 60 regulatory licenses globally, according to the company.
The Upbit listing gives RLUSD direct access to South Korea's active crypto market, where stablecoin trading volume has grown as regulated frameworks take shape. The next milestone for Ripple's stablecoin strategy is whether RLUSD market depth on Asian exchanges translates into measurable settlement volume through institutional corridors.
RLUSD's Distribution Push Accelerates
Binance has also added incentives tied to RLUSD's Earn and margin offerings, with variable yields reaching 22.25% and weekly rewards paid in XRP, according to Korean reports. The campaign appears designed to bootstrap RLUSD liquidity — a prerequisite for any stablecoin seeking traction in institutional payment flows.
Ripple recently launched Ripple Mint, a platform for institutional stablecoin issuance and management, with RLUSD as the flagship product. The company also invested in compliance infrastructure provider Notabene, planning to integrate RLUSD into Notabene Flow to strengthen KYC and AML controls for regulated participants.
XRP Trades Near $1.09 as Volume Spikes
XRP traded at $1.0934 as of July 27 UTC, down 0.89% over 24 hours, according to CoinGecko. Its market capitalization stood at about $68.37 billion, ranking sixth among all crypto assets. Despite muted price action, 24-hour trading volume rose 71.59% to about $995.8 million, suggesting renewed short-term attention.
Technical analysts identified $1.09 as immediate support, with a break below that level potentially opening a move toward $1.02 to $1.04. On the upside, resistance is clustered at $1.13 to $1.18, with a clean break above $1.13 potentially setting up a move toward $1.35, according to analyst Ali Martinez.
Spot XRP ETF inflows have cooled from roughly $132 million per day in May to below $5 million per day in July, CoinStats AI data shows, though major asset managers including Bitwise and Franklin Templeton continue to anchor the product category.
RLUSD's supply data has not yet been disclosed by Ripple. The stablecoin is fully backed by U.S. dollar reserves and short-term Treasuries, according to the company, and maintains a peg of $1.0000 on the XRP Ledger and Ethereum networks where it is currently issued.
This article is for informational purposes only and does not constitute investment advice.
