Journalist
Tanzeel Akhtar
Journalist
Tanzeel Akhtar
Share
Bitget is doubling down on digital assets, listing Ripple’s new USD-backed stablecoin, RLUSD, on its spot trading platform to stake its claim as a market leader, according to a May 29 X post.
This expansion of Bitget’s stablecoin listings shows that there is growing demand for regulated, utility-focused digital assets, particularly from institutional players operating in an increasingly compliance-driven market.
RLUSD: A Stablecoin with Institutional DNA
According to Bitget, RLUSD isn’t just another dollar-pegged token—it’s a regulated stablecoin built for enterprise-grade use cases.
Issued by Ripple, RLUSD is pegged 1:1 to the U.S. dollar and backed by a segregated reserve of USD fiat and cash equivalents. What sets it apart is its native issuance on both the XRP Ledger (XRPL) and Ethereum, leveraging the interoperability and network strength of the two major blockchains.
“RLUSD stands out as one of the few stablecoins issued by a NYDFS-chartered limited purpose trust company, placing it in a uniquely clear regulatory framework,” said Gracy Chen, CEO of Bitget.
This clarity is key for institutions prioritizing transparency and risk management, making RLUSD a strong fit within Bitget’s broader vision to expand secure, compliant trading options.
Bitget Eyes Institutional Growth in 2025
Bitget said its 2025 roadmap is clear: to scale institutional offerings and deepen integration. The RLUSD listing is a tactical step in that direction, providing institutional and retail users with access to a stablecoin backed by clear compliance credentials.
“We’re excited to partner with Ripple, a team that has consistently pushed forward the adoption of crypto,” said Chen. “This listing helps us build a more robust, trusted ecosystem.”
Bitget Wallet Launches ‘Shop with Crypto’
In May, non-custodial Bitget Wallet also launched ‘Shop with Crypto,’ its novel in-app marketplace that allows users to spend cryptocurrencies directly on goods and services.
Per the blog post, the company’s PayFi (Payment Finance) feature will include new functions, namely Pay Direct, Scan to Pay, and Tap to Pay. The team argues that this will increase both crypto adoption and payment efficiency. Unlike services that convert crypto into fiat, this one allows crypto-native checkout from within the wallet.
In addition, the newly launched in-app shop provides buyers with access to over 300 global brands, the announcement says. This includes digital wallet top-ups, mobile recharges, e-commerce gift cards, gaming, entertainment, and travel.
Credit: Source link