Bybit's RLUSD Hold & Earn Surpasses $50 Million, Adds XRP Rewards in Phase 2

By Lidia Yadlos

Demand for Ripple's RLUSD stablecoin is accelerating. Bybit's RLUSD Hold & Earn campaign has surpassed $50 million in assets under custody (AUC) just 11 days after launch, prompting the exchange to roll out Phase 2 with enhanced rewards through its partnership with Ripple.

The upgraded program introduces daily rewards in both RLUSD and XRP, with higher annualized returns available to users who hold RLUSD for longer periods. Like the original campaign, there are no subscriptions, staking requirements or lock-up periods. Eligible users simply hold RLUSD in their Bybit account and rewards are credited automatically.

The biggest enhancement in Phase 2 is the addition of XRP incentives. Participants now receive a base yield in RLUSD alongside daily XRP rewards funded through Ripple's incentive program.

Users who maintain their RLUSD holdings for at least 30 days can unlock up to a 2x multiplier on the XRP portion of their rewards, significantly increasing their overall annual percentage return.

Bybit says the structure is designed to reward long-term holders while preserving the simplicity that helped the first phase attract more than $50 million in deposits within days.

Riding the Stablecoin Growth Wave

The expansion comes as stablecoins continue to become one of crypto's fastest-growing sectors.

According to industry data, the global stablecoin market has grown beyond $350 billion, driven by increasing use in payments, trading, remittances and tokenized finance. Regulated dollar-backed stablecoins have been among the biggest beneficiaries as institutions and retail users increasingly seek compliant, blockchain-based alternatives to traditional cash.

RLUSD is Ripple's U.S. dollar-backed stablecoin, issued natively on the XRP Ledger, Ethereum and other supported blockchains. Every token is backed 1:1 by segregated reserves of cash and cash equivalents and is redeemable for U.S. dollars, positioning RLUSD as Ripple's entry into the rapidly expanding regulated stablecoin market.

Strengthening the Ripple Partnership

The latest campaign deepens Bybit's collaboration with Ripple beyond simply listing RLUSD. Rather than funding rewards entirely from the exchange, the XRP incentives are supported through Ripple's milestone-based ecosystem program, encouraging greater adoption of both RLUSD and XRP among Bybit users.

The exchange, which now serves more than 80 million users worldwide, has become one of the largest trading platforms supporting RLUSD since the stablecoin launched. By combining automatic yield with no lock-up requirements, Bybit is positioning the product as an easy way for users to earn passive returns while maintaining full access to their funds.

As competition among regulated stablecoins continues to intensify, exchanges are increasingly using reward programs to attract liquidity. Bybit's rapid accumulation of more than $50 million in RLUSD deposits suggests that flexible, low-friction yield products are becoming an important driver of stablecoin adoption.

Published on Bybit

Bybit's RLUSD Hold & Earn Surpasses $50 Million, Adds XRP Rewards in Phase 2