- Ripple-Bitstamp announced a new derivatives exchange built on the XRP ledger, aiming to accelerate crypto adoption.
- Robinhood’s strategic acquisition of Bitstamp for $200 million, strengthening its crypto presence.
- Ripple’s upcoming stablecoin, RLUSD, is poised to make a significant market impact.
Two crypto giants, Ripple and Bitstamp [now part of Robinhood], have teamed up to launch a brand-new digital derivatives exchange built entirely on the XRP ledger. This new venture could be the catalyst to accelerate crypto adoption at larger levels, especially with Ripple’s strategic stake in the crypto exchange Bitstamp. Notably, Robinhood recently acquired Bitstamp in a $200 million deal that’s set to close in the first half of 2025.
Eva Gartner, Head of Strategic Partnerships and Corporate Development at Bitstamp, stated, “We are launching our own derivatives exchange in the next few months, so that’s something we are most excited about and really hope to cooperate closely with Ripple there as well in the final stage of integration of really some top 30 commercial banks globally on Bitstamp as a service, so these commercial banks will offer crypto through Bitstamp, so that’s definitely something we are very proud of.”
In a recent video, Robinhood CEO Vladimir Tenev emphasized the strategic significance of their partnership with Bitstamp, especially as Robinhood seeks to enhance its presence in the cryptocurrency sector. He highlighted that Bitstamp’s long-standing reputation for trust and resilience through various market cycles makes it an ideal partner. The partnership aims to bridge the gap between retail and institutional customers globally, with a focus on expanding beyond the U.S. market.
Ripple’s New Stablecoin Update
He also stressed how the collaboration would allow Robinhood to offer a wider range of services to institutional clients while ensuring enhanced safety and customer experience. Bitstamp, the world’s longest-running cryptocurrency exchange, brings a wealth of knowledge, transparency, and expertise that will contribute to Robinhood’s global expansion efforts.
In other news, Ripple’s much-anticipated stablecoin RLUSD is making waves ahead of its imminent launch. Fueling the hype, a market enthusiast recently claimed on the X platform that Ripple Labs will mint $1 billion worth of RLUSD stablecoins on the launch day at the end of September. He also made a bold prediction that the stablecoin will surpass USDC, which currently has a $35 billion market cap. This prediction follows data shared by the “Stablecoin Tracker,” which has been monitoring RLUSD issuance and burn activity via Etherscan.
