Some of the rewards exceed 22%, the company said.
The worlds largest cryptocurrency exchange continues to update its product line, introducing new ways to keep users on the platform as investor interest has shifted elsewhere.
In the latest move, the CZ-founded company outlined the significant APR provided to certain holders and traders of Ripples stablecoin.
Recall that Binance first listed RLUSD at the start of the year, which included a popular zero-trading-fee promotion for a certain period. Naturally, some of the trading pairs available in January were against XRP.
Although the stablecoin was initially available only on Ethereum, it added support for Ripples XRP Ledger less than a month later.
The updates continued in the following months, including Binance adding the stablecoin to its Earn program, allowing holders to earn some rewards.
The latest post from the exchange provided more details on what investors can actually earn. It reads that the APR has remained variable in the past week, but it was an impressive figure of 22.25%.
Binance explained that users holding and trading the stablecoin can continue to earn weekly XRP rewards, and the asset has been added on the exchanges Margin/Earn program.
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22.25% APR (variable) in the last 7 days.
Hold RLUSD, trade, and earn weekly XRP rewards, its live now on Binance Margin/Earn.
RLUSD saw the light of day at the end of 2024, even before the legal issues concerning the company behind it were resolved. Although its generally aimed at institutional usage, it continues to attract retail participants as well.
Its market capitalization has grown to almost $1.6 billion as of press time, making it the 9th largest stablecoin by that metric.
Earlier this year, RLUSD was included in Mastercards stablecoin initiative, alongside other major names such as USDC, PYUSD, USDP, and SoFiUSD.
More recently, Ripple launched a new platform called Ripple Mint, which aims to enhance institutional access to RLUSD for easier minting, redemption, and management.