- Ripple’s RLUSD has been listed on Gemini after gaining support from Bullish, Bitstamp, and LMAX Digital since its December 2024 launch.
- Ripple minted RLUSD on both XRP Ledger and Ethereum, with Ethereum used more frequently for circulation and distribution.
- Ripple donated $25 million worth of RLUSD to major U.S. education non-profits to support classroom and teacher-focused initiatives nationwide.
Ripple’s newly launched stablecoin, RLUSD, has received fresh market exposure as Gemini added support for the asset. The U.S.-based exchange, founded by Tyler and Cameron Winklevoss in 2014, announced the listing through Ripple’s senior executive Reece Merrick on social media.
Ripple established RLUSD on the mainnet in December 2024. It should be noted that the stablecoin is based on both the XRP Ledger and Ethereum platforms. After this, several other exchanges such as Bullish, Bitstamp, and LMAX Digital have adopted the asset. The listing in Gemini answers the need to expand the availability of RLUSD in various platforms.
Ethereum Preferred for RLUSD Distribution
While RLUSD is minted on two blockchains, Ethereum has become the more frequently used network for issuing the token. This dual-network model allows Ripple to offer flexibility for users and partners engaging with its stablecoin across ecosystems.
On May 5, Ripple, through its XRPL Labs, launched the educational initiative and committed $25 million RLUSD to classrooms in the United States. One non-profit education organizations that benefited from the donation are DonorsChoose and Teach For America. The funding would like to develop and improve the teacher support, as well as increase the educational programs around the United States of America.
Ripple Marks Teacher Appreciation Week with Donation
Ripple’s CEO, Brad Garlinghouse, confirmed the donation aligns with Teacher Appreciation Week. The initiative will support classroom projects and teacher development. Teach For America’s CEO stated that the contribution will help grow several educational initiatives, including tutoring and training programs.
Stablecoin Minting Activity Paused Since April 25
According to data from the Ripple Stablecoin Tracker, Ripple last minted RLUSD on April 25. On that day, three separate batches totaling 38 million RLUSD were created. The same day also saw 15 million RLUSD burned. Since then, no new RLUSD has been issued.
Currently, 317.04 million RLUSD are circulating in the market. CoinMarketCap data shows steady movement of the stablecoin, which continues to expand its footprint in the digital asset space through new exchange listings and institutional use cases.
