Ripple's RLUSD Lands On South Korea's Upbit And Bithumb
Ripple's RLUSD stablecoin is now listed on all four of South Korea's largest crypto exchanges, including Upbit and Bithumb, with direct KRW trading pairs available to retail traders.
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Ripple's dollar-pegged stablecoin RLUSD is now available across all four of South Korea's largest cryptocurrency exchanges, after Upbit and Bithumb joined Coinone and Korbit in supporting the asset.
South Korea's Biggest Exchanges Open the Door
Upbit, South Korea's largest exchange, confirmed the RLUSD listing on July 28, 2026, opening trading against the Korean won, Bitcoin, and USDT. Bithumb, the country's second-largest exchange, launched spot trading for RLUSD against the Korean won just one day later.
Upbit's trading volumes account for roughly 70% of all South Korean crypto trades, making the listing significant for RLUSD's exposure in a region where XRP already commands a strong retail following. The Upbit listing expands RLUSD's availability in a market where XRP has historically recorded high retail trading activity.
Deposits and withdrawals on Upbit are supported exclusively on the XRP Ledger, requiring destination tags for proper crediting. Direct KRW trading simplifies transactions for local users by removing additional conversion steps that many foreign stablecoins require.
Reserve Backing and Regulatory Standing
RLUSD is issued by Standard Custody and Trust Company, a wholly owned Ripple subsidiary, and operates under regulatory oversight from the New York State Department of Financial Services. Deloitte released an independent report in March 2026 confirming that RLUSD is fully backed by reserves, with the stablecoin maintaining reserves exceeding its circulating supply as of February 2026. Reserves consist of US dollars and low-risk investment assets held at reputable US financial institutions, with monthly reports conducted by Deloitte to validate the circulating supply and backing assets.
RLUSD has expanded steadily since its launch in December 2024, with notable exchange listings including OKX in April 2026, Kraken in April 2025, and Bitstamp in January 2025. The completion of the South Korean top-four rollout represents one of the stablecoin's most concentrated regional pushes to date.
Sources
U.Today: Ripple's RLUSD Listed by South Korea's Biggest Exchange
U.Today: Bithumb Lists Ripple USD as RLUSD Trades Below Peg
TheStreet: Deloitte Confirms RLUSD Fully Backed by Reserves
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Soumen DattaSoumen has been a crypto researcher since 2020 and holds a master’s in Physics. His writing and research has been published by publications such as CryptoSlate and DailyCoin, as well as BSCN. His areas of focus include Bitcoin, DeFi, and high-potential altcoins like Ethereum, Solana, XRP, and Chainlink. He combines analytical depth with journalistic clarity to deliver insights for both newcomers and seasoned crypto readers.