XRP futures debut on Coinbase as Ripple's RLUSD stablecoin integrates into Aave

Ripple’s ecosystem is seeing notable momentum, with XRP and its RLUSD stablecoin making major advances in the crypto market.

Coinbase lists XRP futures

On April 21, Coinbase introduced XRP futures contracts on its US derivatives platform. These contracts, regulated by the Commodity Futures Trading Commission (CFTC), offer traders a compliant way to access XRP without directly holding the asset.

Futures contracts allow investors to speculate on future price movements or hedge positions.

According to Coinbase’s filing, the exchange introduced two XRP futures contracts: standard contracts containing 10,000 XRP for institutional players and “nano” contracts comprising 500 XRP or about $1,000 each, tailored for retail participants. Both contracts use the MarketVector Coinbase XRP Index as a benchmark and settle in US dollars.

This listing places XRP alongside other major cryptocurrencies such as Bitcoin, Ethereum, and Solana on Coinbase’s derivatives platform.

Meanwhile, the launch also arrives amid a rising wave of institutional interest in XRP, evidenced by the introduction of several XRP-based financial products in recent weeks.

RLUSD stablecoin taps into DeFi through Aave

Ripple’s new stablecoin, RLUSD, also marked a key milestone with its integration into Aave’s V3 Ethereum Core Market on the same day.

According to the X post, Aave, the largest decentralized lending protocol by total value locked (TVL), now allows users to supply and borrow RLUSD. The lending pool is capped at $50 million, and the borrowing pool is limited to $5 million.

Aave’s support is a significant development for RLUSD, considering the protocol’s influence in DeFi. Aave operates across 17 blockchain networks, including Ethereum, Sonic, Base, Optimism, Polygon, and Arbitrum. So, this integration offers RLUSD exposure to a broader on-chain user base.

However, activity has been modest, with just $241 supplied and a utilization rate of around 41%.

Nevertheless, the move paves the way for RLUSD to expand within DeFi applications. Since launching in December, the stablecoin has grown to a market cap of $294 million, fueled by increased trading volume and new partnerships.