Gemini Adds Ripple USD Support on XRP Ledger

Gemini, a US-based crypto exchange, has added support for Ripple USD (RLUSD) on the XRP Ledger, integrating this stablecoin for faster and cost-effective transactions.

This move enhances multi-chain capabilities, potentially impacting liquidity and user experience in XRP markets, and reflects Gemini’s strategic alignment within the stablecoin sector.

Gemini has officially integrated Ripple USD (RLUSD) into its operations on the XRP Ledger (XRPL). This incorporation aims to improve transaction speed and cost-efficiency for users.

Gemini, a U.S. crypto exchange founded by the Winklevoss twins, now supports RLUSD deposits and withdrawals on both XRPL and Ethereum. This development supports Gemini’s multichain stablecoin strategy.

The integration’s direct impact includes creating a single, chain-agnostic RLUSD balance for users. This balance supports transfers across XRPL and Ethereum platforms.

No new capital raises were disclosed for this integration, reflecting a user-centric aim to enhance transaction experiences without significant institutional investments.

The collaboration could indirectly affect XRP by increasing XRPL usage and liquidity activities, reflecting an expanding ecosystem for stablecoin operations.

Analysts note this move could facilitate broader adoption of stablecoin-based settlements on decentralized platforms. As cross-chain activities increase, regulatory and technological dynamics may evolve to adapt to integrated systems. “In an effort to give customers a faster, cheaper trading experience, Gemini has added support for RLUSD on the XRP Ledger (XRPL), building on its multichain stablecoin strategy.”