XRP News: Binance and Bybit Are Paying Users to Hold RLUSD, Will They Stay?

Two major exchanges are offering XRP rewards to people who hold Ripple’s stablecoin, RLUSD. For users, it is a chance to earn a second token. For the exchanges, it is a way to attract and retain RLUSD balances.

Binance announced on September 24 that eligible holders will share $800,000 worth of XRP over four weeks, starting September 25. Bybit is already running a separate RLUSD Hold & Earn promotion that includes XRP rewards and zero-fee RLUSD/USDT spot trading for a limited period.

The two offers use similar numbers, but they are not the same size: Binance’s pool is valued at $800,000, while Bybit describes its XRP bonus pool as 800,000 XRP tokens.

What Do Users Actually Have to Hold?

Both campaigns revolve around RLUSD, a dollar-pegged stablecoin issued by Ripple. XRP is a separate asset used for the rewards. Users do not have to treat RLUSD as a bet on XRP’s price to take part.

On Binance, qualifying RLUSD can sit in eligible spot, funding, Earn or margin accounts. A user’s XRP payout depends on their qualifying balance and the wider pool of eligible holdings; there is no fixed payment for simply signing up. Binance plans to distribute rewards weekly through October 23.

Bybit’s current phase runs through October 18. It offers RLUSD rewards alongside XRP bonuses, with terms that favor longer continuous holdings. Eligibility and returns differ between the platforms. Binance also excludes users in several jurisdictions, including the United States and United Kingdom.

Binance Bybit Asset users hold RLUSD RLUSD XRP reward pool $800,000 worth of XRP 800,000 XRP tokens Scheduled end October 23 October 18 Will the Balances Stay?

The promotions show exchanges competing for RLUSD holders, but rewards are a temporary reason to keep funds on a platform. They do not establish that people are using RLUSD for payments or that XRP demand will rise by the value of the advertised pools.

Binance had already added RLUSD support on the XRP Ledger. RLUSD also circulates on Ethereum, so growth in stablecoin balances cannot automatically be counted as growth in XRP Ledger activity.