- RLUSD on a tear on Bitstamp
- Robinhood buys Bitstamp for $200 million
Leonard Hoh, General Manager, at a major European cryptocurrency exchange owned by the popular trading venue Robinhood, took to stage during the recent Apex 2025, the largest XRPL community summit.
He spoke about Ripple’s most recent brainchild, RLUSD stablecoin, gaining traction on Bitstamp rapidly in the XRPL ecosystem in general.
This video extract was shared by the @RippleXDev account on the X social media network.
RLUSD on a tear on Bitstamp
Leonard Hoh elaborated on the significant growth faced by the stablecoin market at the moment as its capitalization has surpassed $250 billion. He stressed that Bitstamp has recently become “one of the biggest liquidity venues for XRP and for RLUSD today.” Therefore, this drives a lot of activity on the XRP ledger.
While Bitstamp is a European-founded exchange, he said, still they get a lot of customers not only from Europe but also from the UK, North and South Americas, and Asia as well. Hoh stressed that this massive interconnection of traders from various parts of the world on Bitstamp and their interaction with the XRP community comes at an early stage of RLUSD on this platform.
Currently, RLUSD is “a top-three traded stablecoin” on Bitstamp, according to the general manager of this crypto exchange.
Overall, he believes “RLUSD is unlocking real-world utility for both institutional and retail users on XRPL.”
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Robinhood buys Bitstamp for $200 million
In early June, Robinhood closed the deal purchasing Bitstamp for a substantial $200 million. This acquisition brought the former more than 50 crypto licenses around the world, gave it a massive institutional base of clients, and a new infrastructure for lending, staking, and “crypto as a service”. The latter aims fintechs, hedge funds, and registered investment advisors. This requires strong systems for settlement, custody, and price discovery.
Besides, this way, Robinhood is expanding its presence in the UK, Asia, and Europe as it has a goal to turn into a global crypto powerhouse using already fully-fledged popular platforms like Bitstamp, which is also one of the oldest exchanges in the crypto market’s history.