Binance expanded RLUSD stablecoin support to XRP Ledger with 22.25% APR rewards; RLUSD now the 9th largest stablecoin at $1.6B market cap.
DeFi & Yields ·
Binance has expanded RLUSD, Ripple's stablecoin, to its Margin/Earn program with variable APR rewards of 22.25% over the past week. The stablecoin, initially launched on Ethereum, now supports the XRP Ledger and allows users to earn weekly XRP rewards through holding and trading activity on the exchange.
RLUSD has grown to approximately $1.6 billion in market capitalization, positioning it as the 9th largest stablecoin. The asset was included in Mastercard's stablecoin initiative earlier this year alongside USDC, PYUSD, USDP, and SoFiUSD. Ripple has also launched a separate platform called Ripple Mint to facilitate institutional access for minting and redemption.
The sustainability of the 22.25% APR rate remains unclear, as the reported figure is explicitly variable week-to-week. No details have been disclosed regarding the mechanics of the XRP reward distribution or conditions that may affect participation in the earn program.