Upbit Lists Ripple's Regulated Dollar Stablecoin RLUSD Amid Rapid Expansion

Ripple's regulated dollar stablecoin, RLUSD, is expanding its reach in Asia with a listing on Upbit, South Korea's largest cryptocurrency exchange. The listing, announced by Upbit, will go live on July 28 at 14:00 local time, offering RLUSD trading pairs against the Korean won (KRW), Bitcoin (BTC), and USDT.

The move marks another step in RLUSD's rapid expansion into major global exchanges. Launched in December 2024, the stablecoin has grown rapidly, with its market capitalization climbing from $130 million to around $1.6-1.8 billion as of mid-2026.

Ripple USD is designed to maintain a constant $1.00 value, backed by a segregated reserve of U.S. dollar deposits, short-dated U.S. Treasury bills, and cash equivalents held at regulated financial institutions. The stablecoin's regulator-first design has made it an attractive option for exchanges and institutions navigating tightening regulatory environments.

The Upbit listing is part of a bigger exchange rollout for RLUSD, which has already included Binance, OKX, and Gate. Ripple has been building out the stablecoin's institutional footprint through partnerships with Mastercard, JPMorgan, and other financial infrastructure players aimed at using RLUSD and the XRP Ledger for institutional settlement, trade finance, and collateral services.