Binance has launched a new rewards program for holders of Ripple’s RLUSD stablecoin, offering a variable annual percentage rate (APR) that reached 22.25% in the past week. The world’s largest cryptocurrency exchange stated that users can earn weekly XRP rewards by holding and trading the stablecoin, which is now integrated into Binance’s Margin and Earn programs. This marks another update to the exchange’s product line as investor interest shifts. RLUSD, which first appeared in late 2024, has grown to a market capitalization of nearly $1.6 billion, making it the ninth-largest stablecoin. The asset was recently added to Mastercard’s stablecoin initiative.
Binance has introduced a new rewards program for holders of Ripple’s RLUSD stablecoin, offering a variable annual percentage rate (APR) that reached 22.25% in the past week. The world’s largest cryptocurrency exchange stated that users can earn weekly XRP rewards by holding and trading the stablecoin.
The program is now live on the exchange’s Margin and Earn platforms, as confirmed. According to the company, some rewards exceed 22%, and the APR is variable.
Binance first listed RLUSD at the start of the year, including a zero-trading-fee promotion for a certain period. The trading pairs available in January included those against XRP.
Although the stablecoin was initially available only on Ethereum, it added support for Ripple’s XRP Ledger less than a month later, as Ripple announced. The exchange later added the stablecoin to its Earn program.
RLUSD saw the light of day at the end of 2024, before legal issues concerning its parent company were resolved. Although generally aimed at institutional usage, it continues to attract retail participants.
Its market capitalization has grown to nearly $1.6 billion as of press time, making it the ninth-largest stablecoin by that metric. Earlier this year, RLUSD was included in Mastercard’s stablecoin initiative, alongside USDC, PYUSD, USDP, and SoFiUSD.
More recently, Ripple launched a new platform called Ripple Mint to enhance institutional access to RLUSD for easier minting, redemption, and management.
