Ripple's USD-pegged stablecoin Ripple USD (RLUSD) has received a significant boost through its integration with the well-known cryptocurrency payment platform Transak.
Transak has officially integrated support for the Ripple USD stablecoin, allowing 8.3 million users to purchase RLUSD using various fiat currencies. The company announced this news in a statement to Cointelegraph on Wednesday.
Transak's Head of Marketing, Harshit Gangwar, stated, "We have been working closely with the Ripple team to explore how RLUSD can leverage Transak's global reach, connecting over 450 wallets, decentralized applications (DApps), and exchanges for broader distribution."
With RLUSD's market capitalization surpassing $500 million for the first time, Transak's integration has brought significant upgrades to its global operations.
Gangwar told Cointelegraph that users can now purchase RLUSD with fiat in all 64 countries and regions supported by Transak.
The supported markets include major regions such as the United States, the United Kingdom, and the European Union. He added that the integration plan has been in preparation for about three months to ensure regulatory compliance in various locations.
Through Transak, cryptocurrency wallets, exchanges, and other platforms are expanding their support for RLUSD. Source: Transak
Gangwar mentioned that in addition to supporting at least 450 crypto-native services such as MetaMask, Trust Wallet, Ledger, Coinbase Wallet, Uniswap, and Phantom, Transak also offers diverse payment options for RLUSD:
Currently, Transak has launched multiple channels for purchasing RLUSD with fiat, but the fiat withdrawal feature, which allows holders to convert RLUSD into fiat, has not yet been launched.
Gangwar told Cointelegraph, "We plan to launch the RLUSD withdrawal feature later in 2025, at which point more use cases will emerge, not limited to funding decentralized applications, especially in the remittance and cross-border payment sectors."
At present, Transak supports fiat withdrawals for at least 40 other crypto assets, including Bitcoin (BTC), Ethereum (ETH), Tether's USDt (USDT), and Circle's USDC (USDC).
Although RLUSD was initially designed for enterprise-level use, its integration with Transak highlights the growing retail application scenarios for this currency.
On the same day, Ripple officially announced that it has selected Bank of New York Mellon (BNY) as the primary custodian for RLUSD reserves.
Emily Portney, BNY's Global Head of Asset Servicing, stated, "As the primary custodian for RLUSD, we are proud to support the development of digital assets with a differentiated platform designed to meet the evolving needs of institutions in the digital asset ecosystem."
The continued adoption of RLUSD has driven its market capitalization to reach $500 million for the first time since its launch less than seven months ago.
According to CoinGecko data, RLUSD's market capitalization has increased by nearly $200 million since early June, with a growth rate of up to 62%.
Related: Polygon's "most complex" hard fork Heimdall 2.0 will be deployed on Thursday
Original article: “Ripple's RLUSD Launches on Transak, Market Cap Surpasses $500 Million”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
