Ripple and cryptocurrency exchange OKX said Wednesday they partnered in order to expand access to RLUSD, including making the stablecoin available for spot trading across over 280 pairs, the two companies said.

The partnership could bolster RLUSD's usage and liquidity, setting the USD-pegged token to better compete with the industry's two leading stablecoins, Tether's USDT and Circle's USDC. Ripple launched its RLUSD stablecoin in December 2024 and has a market capitalization of over $1.5 billion.

On OKX, traders will be able to use RLUSD for "institutional-grade margin collateral for derivatives, including perpetual futures where available," the companies said in a statement. "Deposits and withdrawals are enabled via the XRP Ledger (XRPL), with direct minting and redemption ensuring consistent access to liquidity," they also said.

"As RLUSD adoption accelerates, we're seeing strong demand across both crypto-native and institutional markets, particularly for high-quality collateral," Ripple SVP of Stablecoins Jack McDonald said.

Through OKX's unified order book, the exchange said its customers can use RLUSD "to trade and collateralize positions across both spot and derivatives markets, enabling more flexible margin management and streamlined capital deployment without moving funds across platforms."

OKX serves over 120 million customers worldwide, according to the statement. Besides issuing RLUSD, Ripple is closely associated with the XRP token and the primary advocate for its ecosystem.