In a turn of events that could make even the most stoic of financial analysts raise an eyebrow, the digital asset platform known as Bullish has decided to take a rather audacious leap into the world of stablecoins. Yes, you heard it right! They’ve managed to wrangle a staggering $1.15 billion from their freshly minted initial public offering, and they’ve done it all in stablecoins, including the ever-so-charming Ripple USD (RLUSD). Who knew finance could be so… stable? 😏
Now, Ripple, in a fit of uncontainable excitement, took to the social media platform X (formerly known as Twitter, but let’s not dwell on the past) to announce that a portion of Bullish’s IPO proceeds were settled in RLUSD, which, if you’re not already aware, is minted on the illustrious XRP Ledger. And just to keep things spicy, RLUSD is also frolicking about on the Ethereum blockchain. Because why not? Variety is the spice of life, after all! 🌶️
Congrats to @Bullish on a successful IPO! 👏
A portion of the IPO proceeds were settled in $RLUSD, minted on the XRP Ledger. This is the first public listing to bring the settlement process onchain and sets a precedent for how stablecoins can shape future listings.
– Ripple (@Ripple) August 19, 2025
Ripple has declared this momentous occasion as the first public listing to put the settlement process on-chain. Yes, you heard it right, folks! This is a groundbreaking precedent for how stablecoins might just waltz into the future of listings. Who knew that digital coins could be so forward-thinking? 🤔
And let’s not forget the recently passed GENIUS act, which has set the stage for cryptocurrency tokens pegged to the U.S. dollar-those delightful little creatures we call stablecoins. This act is expected to boost their utility and pave the way for them to become as common as a cup of tea on a rainy day. ☕
Bullish accounts for 76% of RLUSD trading volumes
Now, let’s talk numbers! Ripple USD stablecoin RLUSD made its grand debut globally in December 2024, initially gracing exchanges like Uphold, Bitso, MoonPay, Archax, and CoinMENA before making a beeline to the Bullish crypto exchange shortly thereafter. Talk about a whirlwind romance! 💘
According to the ever-reliable CoinMarketCap data, Bullish accounts for over 76% of RLUSD trading volume, split across various trading pairs: RLUSD/USDC (40.86%), XRP/RLUSD (35.92%), and SOL/RLUSD (0.86%). Yes, you read that right-0.86%! It’s like the little engine that could, but with numbers! 🚂
In the latest twist of this financial saga, Mesh has announced its support for Ripple USD, adding it to a delightful collection of over 50 tokens already available on its platform. This means merchants can now accept the Ripple stablecoin at checkouts. Because who wouldn’t want to pay with a stablecoin that sounds like a character from a children’s book? 📚
And just when you thought it couldn’t get any better, nearly eight months after its launch, RLUSD has surpassed a total market capitalization of $600 million, now sitting pretty at $666 million, according to CoinMarketCap data. Talk about a devilishly good performance! 😈
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2025-08-19 17:40