Upbit Introduces RLUSD Trading Pair Across Major Markets

Upbit Launches RLUSD Trading Across Key Markets

In a significant development for cryptocurrency traders, South Korean exchange Upbit announced the launch of trading for Ripple USD (RLUSD) on July 28, 2026. The trading pairs will be available in Korean won (KRW), Bitcoin (BTC), and Tether (USDT).

Trading Details and Support

Trading for RLUSD was set to begin at 2:00 PM Korea Standard Time. Deposits and withdrawals are to be facilitated only via the XRP Ledger and require users to include destination tags for incoming RLUSD transfers. Upbit specified that it is supporting only the XRP Ledger version of RLUSD, thereby excluding any Ethereum or other network versions of the token.

Initial Price and Market Conditions

The exchange indicated an initial pricing of RLUSD at 1,468.76 won, 0.00001583 BTC, and 0.9995 USDT at 11:00 AM KST prior to trading commencement. These figures serve as a preliminary quote and do not reflect actual trading activity.

Temporary Trading Limits Imposed

To manage liquidity and ensure market stability, Upbit implemented temporary trading restrictions. During the first five minutes of trading, buy orders were limited, and sell orders priced more than 10% below the previous day’s closing price were also restricted. Furthermore, only limit orders were permitted for approximately two hours after the launch.

Expanding RLUSD’s Market Presence

This listing marks an expansion for RLUSD in a market where XRP has seen robust retail trading. Previously, RLUSD was available through another local exchange, Coinone, giving Ripple a foothold in South Korea. Upbit’s addition enhances RLUSD’s accessibility in a region keen on digital assets.

Backed by Significant Reserves

Ripple has reported that as of July 16, RLUSD has a circulating supply of $1.51 billion, which is backed by $1.62 billion in reserves. The stablecoin’s backing consists of cash and highly liquid short-term assets held in segregated accounts, ensuring transparency and safety for users. Monthly reserve reports are published to maintain accountability.

Compliance and Future Trading Measures

Post-listing, Upbit will closely monitor trading volume, order-book depth, and compliance with South Korea’s regulations regarding fund sources and travel rule requirements. The exchange has not indicated support for other networks, meaning holders of RLUSD on Ethereum will need to bridge or convert their tokens to the XRP Ledger version before proceeding with deposits.