Gemini Integrates Ripple’s Stablecoin (RLUSD) and Gains Key Regulatory Approval

US-based crypto exchange Gemini has significantly expanded its offerings by integrating Ripple’s stablecoin, RLUSD, onto the XRP Ledger (XRPL).

Key Developments:

• RLUSD Integration: Gemini now allows users to deposit and withdraw RLUSD on both the XRPL and Ethereum networks. This move, according to Gemini, provides near-instant settlements and lower fees.
• Major Collaboration: This integration is the result of a collaboration with Mastercard and WebBank to use RLUSD on the XRPL for fiat settlements, particularly for transactions made via the Gemini Credit Card.
• Regulatory Milestone (CFTC Approval): Separately, Gemini’s affiliate, Gemini Titan, received a Designated Contract Market (DCM) license from the Commodity Futures Trading Commission (CFTC) after a five-year process.
• Prediction Markets: The DCM license enables Gemini to launch prediction markets for its US customers, allowing them to trade event contracts using USD directly from their accounts.

Market Context:

• RLUSD Growth: Ripple’s stablecoin is currently ranked eighth globally, boasting a $1.02 billion market cap and a massive 1,200% year-to-date growth rate since its launch in late 2024.
• XRP Price Action: Despite the positive news surrounding RLUSD and the strong weekly inflows (exceeding $170 million) into US spot XRP ETFs, the XRP token saw a recent price drop of 4.3% in 48 hours, falling from $2.17 to $2.02, as heavy selling pressure resisted a breakout above the $2.10 level.

The combined news highlights Gemini’s strategic effort to leverage stablecoins for faster real-world settlements while simultaneously expanding its US-based services into regulated prediction markets.