Ripple's fully-backed stablecoin, RLUSD, has officially launched on Coinone, one of South Korea's largest regulated cryptocurrency exchanges. The listing enables traders to buy, sell, and trade RLUSD directly with the Korean Won (KRW).
Coinone is a major player in the South Korean market, reporting a 24-hour trading volume of approximately $300 million. The exchange's regulatory status adds credibility to the listing, providing Korean users with a secure and compliant gateway to access Ripple's digital dollar.
RLUSD is designed as an enterprise-grade stablecoin for payments and settlements, offering transparency and stability through its 1:1 backing with U.S. dollars. Ripple announced the launch via its official X (formerly Twitter) account, stating: "$RLUSD is now live on @CoinoneOfficial — one of South Korea's largest regulated exchanges. Korean traders can now access Ripple's fully-reserved, enterprise-grade stablecoin directly in KRW. Global reach. Local access."
This move represents a significant strategic step for Ripple in expanding its presence in the Asian market. The company has been actively positioning RLUSD as a preferred international crypto on-ramp. This follows recent testing initiatives, such as exploring whether RLUSD can replace manual payment processes within Singapore's regulatory sandbox environment, BLOOM, which is managed by the Monetary Authority of Singapore.
The stablecoin sector continues to demonstrate strong utility, with a total market capitalization exceeding $320 billion, accounting for more than 13% of the entire cryptocurrency industry's value.
