Upbit Lists Ripple USD Stablecoin With KRW BTC and USDT Pairs
TLDR
- Upbit listed RLUSD trading pairs against KRW, BTC, and USDT on July 28.
- RLUSD deposits and withdrawals support only the XRP Ledger version on Upbit.
- Users must include destination tags when sending RLUSD deposits to Upbit.
- Ripple reported $1.5086B circulating RLUSD and $1.6191B in reserves on July 16.
- Ripple Mint launched July 23 to help institutions mint, redeem, and manage RLUSD.
South Koreaโs largest crypto exchange, Upbit, added Ripple USD trading on July 28. The exchange opened RLUSD markets against the Korean won, Bitcoin and Tether at 2:00 p.m. Korea Standard Time. The listing gives Rippleโs regulated stablecoin wider access in one of Asiaโs most active crypto markets.
RLUSD Launches on Three Upbit Markets
Upbit introduced RLUSD/KRW, RLUSD/BTC and RLUSD/USDT trading pairs after confirming sufficient market liquidity. Deposits and withdrawals opened within two hours of the exchange announcement. Upbit limited all transfers to the XRP Ledger version of RLUSD.
The exchange excluded RLUSD issued on Ethereum and other supported networks. Customers must use the correct XRP Ledger destination tag when sending funds. Upbit uses destination tags to match incoming transfers with individual customer accounts.
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