Ripple's dollar-backed stablecoin, RLUSD, has secured a significant listing on Coinone, one of South Korea's top cryptocurrency exchanges. The listing, announced on April 11, 2026, makes RLUSD directly tradable against the Korean won, providing Korean traders with a new, compliant digital dollar alternative. This move places RLUSD into South Korea's tightly regulated and trusted crypto trading environment.
Ripple's strategy for RLUSD is not as a generic retail stablecoin but as an enterprise-focused tool designed for cross-border payments and corporate treasury needs. This aligns with Ripple's broader mission of integrating blockchain technology into traditional financial systems.
The listing news coincides with a major partnership announcement between Ripple and Convera, a heavyweight in global payments and foreign exchange. The collaboration aims to upgrade international money transfers by utilizing a "stablecoin sandwich" model. In this model, payments start in fiat currency, move through a stablecoin like RLUSD for the transfer, and then settle back into fiat at the destination. This approach is designed to improve speed, reduce costs, and ensure regulatory compliance for cross-border transactions.
Convera CEO Patrick Gauthier emphasized the need for a "trusted, visionary partner" to meet evolving customer demands in the digital currency space. Ripple's Senior Vice President of Product, Aaron Slettehaugh, stated that the partnership combines "a trusted global payment infrastructure with stablecoin-powered settlement" to give businesses more control over international value movement.
Separate data reveals RLUSD is driving explosive growth on the XRP Ledger (XRPL). Over the past 30 days, the network recorded $1.77 billion in stablecoin transfer volume, marking a staggering 91.90% increase from the previous month. The total stablecoin market cap on XRPL grew 7.51% to $432.26 million, and the number of stablecoin holders jumped 7.99% to 56,830 addresses.
RLUSD dominates this activity, commanding approximately 84-85% of the stablecoin market on XRPL, with a value of $336.8 million. Other stablecoins like XSGD, EURØP, and USDC, which launched on the ledger in 2025, split the remaining share.
Furthermore, the XRP Ledger is seeing significant growth in Real World Assets (RWAs). The network now holds $1.53 billion in represented RWA value, up 2.23% over 30 days. RWA transfer volume hit $111.78 million, a 25.41% monthly increase. These assets, including tokenized treasuries and private credit, indicate institutional capital is flowing onto the ledger.
RLUSD's credibility was recently reinforced by an independent audit from Deloitte. The report, as of February 2026, confirmed Ripple holds over $1.6 billion in reserves, exceeding the number of RLUSD tokens in circulation, solidifying its 1:1 peg to the U.S. dollar.
