We’re excited to announce that RLUSD (Ripple USD) is launching on BitMEX – allowing users to deposit, buy, and trade RLUSD on Spot, and use as margin through Multi Asset Margining!
Starting 20 May at 04:00 UTC, users can deposit, buy, and trade RLUSD on BitMEX Spot. Coming 22 May at 04:00 UTC, RLUSD will be available to use as margin to trade any derivatives contract on BitMEX via Multi Asset Margining – making us the first exchange to offer RLUSD as margin to date.
XRP, the native token of XRP Ledger, will also be added to Multi Asset Margining on 27 May at 04:00 UTC.
To celebrate the new listing, we’re launching The Ripple Effect campaign – where users can win up to 15,000 RLUSD (find out how here).
For a lowdown on the new listing and how you can win your share of the rewards, read on.
If you haven’t signed up for a BitMEX account yet, we’re currently offering $5,000+ in BMEX Tokens for verified users – you can register here.
BitMEX Spot: Deposit, Buy, and Trade RLUSD
The addition of RLUSD on BitMEX means users can now:
- Deposit and Hodl RLUSD in their BitMEX Wallet (via ERC-20 and XRPL).
- Trade RLUSD_USDT on BitMEX Spot via the open order book here.
*Note: There will be a minimum deposit requirement of 10 RLUSD.
Multi Asset Margining: Trade with RLUSD as Margin, Only on BitMEX
From 22 May at 04:00 UTC, users will also be able to use RLUSD as margin to trade any derivatives contract on BitMEX through Multi Asset Margining. BitMEX is the first exchange to offer RLUSD as a margin currency to date.
Support for XRP (the native token of XRP Ledger) as a margin currency will also be added on 27 May at 04:00 UTC.
For more details on how to enable Multi Asset Margining and start trading with RLUSD and XRP as margin, read our blog.
The Ripple Effect: Win up to 15,000 RLUSD
To celebrate the arrival of RLUSD on BitMEX, we’re giving away 15,000 RLUSD to users who engage with the new token on BitMEX. We have a total of three reward schemes:
Reward 1: Deposit or Buy RLUSD to Win a 4,000 RLUSD Prize Pool
2,000 RLUSD will be distributed to the first 100 users who deposit or buy at least 1,000 RLUSD on BitMEX. Another 2,000 RLUSD will be distributed to 5 random users that deposit/buy RLUSD via a lucky draw.
Reward 2: Trade with RLUSD as Margin and Earn from a 7,000 RLUSD Prize Pool
Distributed to the first 200 users that use at least 1,000 of RLUSD as margin and achieve a minimum trading volume of $20,000.
Reward 3: Hodl-to-Earn from a 4,000 RLUSD Airdrop
Random snapshots will be taken of users’ RLUSD holdings throughout the campaign period. Distributed to users holding a minimum of $5,000 in RLUSD in their BitMEX wallet.
Want your share of the rewards? Find out how you can participate for your share of the rewards here.
What is Ripple USD (RLUSD)?
Ripple USD (“RLUSD”), issued by Standard Custody & Trust Company, LLC, a wholly owned subsidiary of Ripple Labs, is a USD denominated stablecoin created with trust, liquidity, and compliance at its core. Each RLUSD is backed by at least an equivalent amount of U.S. dollars and other cash equivalents. RLUSD is purpose-built for cross-border payments and delivers reliable access to digital dollars.
As an industry leader for over a decade, Ripple has a proven track record of delivering breakthrough blockchain solutions at scale. Strong ecosystem relationships built over a decade facilitates RLUSD’s broad accessibility for use by financial institutions, enterprises and developers. Ripple’s commitment to regulatory compliance, combined with its global license portfolio, enables RLUSD users to transact with confidence. RLUSD delivers the reliability of USD combined with the efficiencies of blockchain technology in a trusted, liquid, and compliant manner.
To be the first to know about our new promotions, giveaways, listings, and product launches, you can visit https://www.bitmex.com/ or connect with us on Telegram, Twitter, or Discord. We encourage you to also check our blog regularly.
In the meantime, if you have any questions please contact Support.