BitMEX has become the first cryptocurrency exchange to offer RLUSD, Ripple’s USD-pegged stablecoin, as margin collateral for derivatives trading.
The integration as a marginal asset is a signal of growing confidence in regulated, transparent, stablecoins as foundational tools for the next generation of digital finance. RLUSD, issued by Ripple and fully backed 1:1 by U.S. dollars or cash equivalents, is designed to combine the stability of fiat with the efficiency and transparency of blockchain technology. The stablecoin is available natively on both the XRP Ledger and Ethereum, offering broad interoperability for users.
Starting May 22, 2025, BitMEX users have been able to deposit, buy, and trade the RLUSD Stablecoin on the platform. Additionally, they can use it as margin for any derivatives contract via the exchange’s Multi Asset Margining system.
This makes BitMEX the first exchange globally to enable RLUSD as margin. This provides traders with a new, regulated alternative to traditional collateral, such as USDT, USDC, or Bitcoin.
To celebrate the launch, BitMEX introduced “The Ripple Effect” campaign. The campaign offered a 15,000 RLUSD prize pool for users who deposit, trade, or use RLUSD as margin. The campaign has generated significant buzz, with traders eager to explore the new stablecoin’s potential in both spot and derivatives markets.
BitMEX’s Multi-Asset Margining
BitMEX’s Multi-Asset Margining system enables users to post a variety of assets. These include Bitcoin, USDT, and now RLUSD, as collateral for futures and perpetual swaps. The addition of RLUSD means
- Traders can manage risk more effectively by holding profits or collateral in a stable, regulated asset.
- Institutions and professional traders gain a new tool for capital efficiency, especially in volatile markets.
- For spot trading, margin, and settlement, customers can easily use RLUSD, eliminating the need for frequent asset conversions.
This could lead to more exchanges following suit with the inclusion of RLUSD as margin collateral, which might accelerate the acceptance of regulated stablecoins in complex trading contexts. The importance of RLUSD in the digital asset ecosystem is anticipated to rise as regulatory clarity improves and demand for efficient, compliant collateral increases.
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