Upbit Lists Ripple's Stablecoin RLUSD in South Korea
South Korean cryptocurrency exchange Upbit has added trading pairs for Ripple's USD stablecoin (RLUSD) against the Korean won, Bitcoin, and Tether. This move expands RLUSD's availability in South Korea, a market with strong XRP retail activity.
The listing on Upbit, which controls about 70% of the South Korean crypto market, provides Korean traders direct access to RLUSD. Deposits and withdrawals are supported exclusively on the XRP Ledger, requiring destination tags for proper crediting.
Upbit implemented initial trading restrictions to ensure liquidity and compliance with regulatory rules. The move is significant for RLUSD's growth in the region, complementing existing support on Coinone.