Ripple, OKX list RLUSD on 280+ spot pairs, allow derivatives use

Ripple and cryptocurrency exchange OKX on Wednesday announced RLUSD will be listed for spot trading across more than 280 pairs and accepted as institutional-grade margin collateral on derivatives, including perpetual futures.

OKX customers will be able to trade RLUSD on the exchange's spot markets and use it as collateral for futures where those products are offered. Deposits and withdrawals for RLUSD will be processed on the XRP Ledger, with direct minting and redemption intended to maintain access to liquidity and on-chain settlement.

The integration uses OKX's unified order book, allowing traders to open and collateralize positions across spot and derivatives markets without moving funds between separate order books, the companies stated.

RLUSD launched in December 2024 and has a market capitalization above $1.5 billion. Ripple issues the token and is a primary advocate for the XRP Ledger and the XRP token ecosystem.

Jack McDonald, Ripple's senior vice president of stablecoins, commented, “We are seeing strong demand across crypto-native and institutional markets for high-quality collateral.” OKX noted the listing enables customers to use RLUSD for institutional-grade margin collateral for derivatives, including perpetual futures where available.

OKX reported it serves more than 120 million customers worldwide. By enabling direct minting and redemption on the XRP Ledger, the partners said they aim to keep RLUSD liquid and readily exchangeable for users on the exchange.

Stablecoins are commonly used as collateral in crypto derivatives because they provide a dollar-pegged unit of account for margin and settlement. RLUSD's availability on OKX adds another USD-pegged option built on the XRP Ledger for traders and institutions.