Ripple has expanded its dollar-pegged stablecoin RLUSD into South Korea, listing on Coinone, one of the country's largest regulated exchanges. The listing, announced on April 1 via Ripple's social media, allows Korean traders to access RLUSD directly in KRW markets, marking a significant step in the company's stablecoin strategy across global regulated markets.
Coinone Listing Details
Coinone had previously announced on March 24 that it would add RLUSD to its KRW market, setting a reference price of 1,486 won and integrating with the XRP Ledger network. The exchange outlined asset details, reserve structure, and usage within Ripple's ecosystem, while emphasizing compliance standards and user protection requirements. Coinone also introduced a zero-fee trading policy for RLUSD, applying to transactions across its platforms, excluding certain automated or third-party integrated trades.
Ripple stated: "RLUSD is now live on Coinone — 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."
RLUSD Market Cap and Adoption
RLUSD is designed as a fully reserved stablecoin backed by liquid financial instruments such as cash deposits, U.S. Treasury bonds, and government money market funds, maintaining a 1:1 peg with the U.S. dollar. As of this writing, RLUSD has a market cap of over $1.3 billion, reflecting growing adoption. The stablecoin supports use cases across payments, remittances, and liquidity flows within Ripple's infrastructure. Ripple has also launched digital asset accounts that integrate XRP and RLUSD directly into core corporate treasury workflows, signaling a shift toward unified liquidity management for CFOs.
Strategic Importance of South Korea
South Korea is a major crypto market with strong retail participation, making it a key region for scaling regulated stablecoin usage. The listing on Coinone not only enhances RLUSD's liquidity and adoption but also strengthens Ripple's payments network in Asia. As Ripple continues to push for regulatory compliance and enterprise-grade solutions, the expansion into South Korea represents a critical milestone in its global stablecoin strategy.