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After debuting on smaller crypto exchanges last month, Ripple’s stablecoin is set to launch “imminently” on larger platforms such as Coinbase, according to a company executive.

In an interview with Bloomberg on Tuesday, Ripple President Monica Long revealed that customers can “expect to see more availability and more announcements coming soon.” Ripple’s Senior Vice President of Stablecoins, Jack McDonald, confirmed her statement in an email to Fortune, saying, “In 2025, we are continuing to focus on global expansion by building additional partnerships with leading exchanges and integrations across new blockchains and decentralized applications.”

Ripple’s stablecoin, RLUSD—a type of cryptocurrency designed to maintain its value in line with the U.S. dollar—was launched on Dec. 17 on exchanges like Uphold, Bitso, MoonPay, Archax, and CoinMENA, following long-awaited regulatory approval from the New York Department of Financial Services.

Listing RLUSD on larger exchanges like Coinbase or Binance would make the stablecoin available to a wider audience of investors both in the U.S. and abroad, boosting adoption.

“Since the launch of RLUSD, less than a month ago, we’ve seen incredible momentum,” McDonald said in the email, although he didn’t provide further details.

On Wednesday, RLUSD made its debut on Bitstamp, one of the oldest crypto exchanges. While Bitstamp is smaller than Coinbase or Binance, CEO of Bitstamp US, Bobby Zagotta, told Fortune that RLUSD had a “fast start” and generated “meaningful volume” within 24 hours of its launch.

“It has all of the things that we would look for in a stablecoin project.… Ripple is all about moving value from one place to another, and this is another means to make that easy, cheap, and fast,” Zagotta added.

Stablecoins are considered by some in the industry to be crypto’s “killer app”—an essential component of the crypto economy. They are often used for cross-border payments and as a store of value in countries where local currencies are prone to inflation. As a result, financial services companies are rushing to develop their own dollar-pegged versions of stablecoins to collect transaction fees and interest.

PayPal, one of the largest payment companies, launched its own stablecoin in 2023. However, PayPal and other stablecoin issuers face stiff competition. Tether and Circle, the two biggest stablecoin companies, dominate 90% of the market. While Tether’s USDT has reached a market cap of $137 billion, PayPal’s PYUSD currently sits at just $500 million.

While it’s too early to determine RLUSD’s long-term success, Long said, “We see a really strong growth trajectory for our payment solution, and with that, Ripple U.S. dollar will have a premium role.”

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