Cryptocurrency exchange Gemini has announced the listing of Ripple’s stablecoin RLUSD on its exchange, enabling trading, deposits, and withdrawals.
This marks a significant step forward in the global adoption of RLUSD. Moreover, the listing triggered a surge in RLUSD’s trading volume, which has increased by 63.7%.
“RLUSD is now available for trading on Gemini. Deposits and withdrawals are enabled. Buy, sell, and store today,” the post read.
The move positions Gemini alongside other major exchanges supporting RLUSD trading. For instance, Bitstamp enabled trading for the stablecoin on January 8. Meanwhile, Kraken followed suit on April 2.
Notably, Gemini’s listing had a positive impact on RLUSD. Following the announcement, the stablecoin’s 24-hour trading volume surged to over $52 million, reflecting a 63.7% increase over the past day, according to data from CoinGecko.
Since its launch late last year, the stablecoin has seen remarkable growth. Its market capitalization has risen 338.6% since the beginning of 2025. As of the latest data, it stands at $317 million.
Although the market cap remains modest compared to industry leaders like Tether (USDT) and USDC (USDC), analysts remain optimistic about RLUSD’s prospects.
“Ripple’s RLUSD stablecoin has exploded since launch, now pushing over $860 million in monthly volume. It’s fully backed, built on the XRP Ledger and Ethereum, and already integrated into Ripple Payments. Kraken, Bitstamp, and LMAX Digital have listed it. This is Ripple’s enterprise-grade answer to global stablecoin demand, and it’s built for compliance, scalability, and cross-border dominance,” a user wrote on X.
Meanwhile, the broader stablecoin ecosystem is also positioned for significant growth. According to forecasts from the US Treasury, the market capitalization could reach $2 trillion by 2028.
Furthermore, Citigroup’s projections estimate that the market cap could soar to $3.7 trillion by 2030. This overall expansion of the stablecoin market is expected to benefit RLUSD as well, driving further integration and usage as the demand for stablecoins continues to rise.
The Middle East and North Africa (MENA) region is quickly becoming a notable force in the push for global crypto adoption. With growing participation from institutions and enterprises and supportive regulations for Web3 technology, MENA is set to expand its impact.
BeInCrypto interviewed Stephan Apel, CEO of Outlier Ventures, to explore the characteristics of these tech-driven economies and their anticipated innovations.
Web3 Adoption and Market Growth
MENA has emerged as a significant center for Web3 development, facilitated by a combination of demographic, technological, and cultural factors. The region’s entrepreneurial spirit has also fostered an environment conducive to the adoption of decentralized technologies.
“The MENA market has set a standard for adopting next-gen technologies and using them to boost their economic transformation. This is especially true for Web3 technologies— the region recognised their potential early on, offering the resources needed for these projects to scale and thrive on both regional and global levels,” Apel told BeInCrypto.
Consequently, the region is witnessing an increase in startups, investors, and developers exploring Web3 and its diverse applications.
A 2024 Chainalysis report revealed that MENA was the seventh biggest crypto market worldwide. From July 2023 to June 2024, the region saw $338.7 billion in online crypto transactions, representing 7.5% of all crypto transactions globally.
Share of all cryptocurrency transaction value by region. Source: Chainalysis.
Notably, Turkey and Morocco ranked among the top 30 countries globally in crypto adoption. Turkey secured the 11th spot, while Morocco ranked 27th. These nations alone accounted for $137 billion and $12.7 billion in received cryptocurrency value, respectively.
Furthermore, the MENA region’s crypto activity is predominantly driven by institutional and professional players, as a substantial 93% of all value transferred involves transactions exceeding $10,000.
Meanwhile, Gulf Corporation Council (GCC) members have distinguished themselves through their ambitious technological initiatives.
MENA’s Strategic Shift Towards AI
The onset of artificial intelligence (AI) has prompted governments and businesses within the Middle East to acknowledge the global trend towards related advanced technologies. Countries like Qatar, Saudi Arabia, and the United Arab Emirates (UAE) are considering their strategic position concerning this technological transformation.
According to a report by PricewaterhouseCoopers (PwC), AI could contribute up to $15.7 trillion to the global economy in 2030. The consulting firm predicts that the Middle East will bring 2% of the total global benefits, equal to $320 billion.
MENA’s pioneering role in AI development. Source: PwC.
The PwC report also indicates that Saudi Arabia will see the largest absolute gains from AI by 2030, with an estimated US$135.2 billion added to its economy, or 12.4% of GDP. In terms of GDP percentage, however, the UAE is expected to see the greatest impact, approaching 14% of its 2030 GDP. Meanwhile, for GCC states Bahrain, Kuwait, Oman, and Qatar, AI is expected to contribute 8.2% of their GDP.
Given the region’s latest initiatives and investments in AI innovation, these numbers come as no surprise.
Saudi Arabia’s AI Development Initiatives
In 2016, the Saudi Arabian government launched Vision 2030, a program to promote economic, social, and cultural diversification. Integral to this vision is a strategic shift towards artificial intelligence and data-driven innovation, a key component of the nation’s economic diversification efforts.
Saudi Arabia is making notable advancements in AI. The country aims to reduce its reliance on oil by developing advanced technology sectors through targeted investments, infrastructure development, and workforce training.
“Fueled by its Vision 2030 initiative, Saudi Arabia has already created a thriving startup ecosystem, dedicated significant investment in emerging technologies,and designed policies to attract global talent and entrepreneurship,” Apel told BeInCrypto.
The Saudi Data and Artificial Intelligence Authority (SDAIA) spearheads Saudi Arabia’s push into artificial intelligence, shaping and implementing the country’s national data and AI strategy. The National Data Bank is a cornerstone of their efforts. It is designed as a central hub for data access and analysis, facilitating AI applications across public and private sectors.
Last November, Saudi Arabia also unveiled Project Transcendence. The $100 billion investment initiative focuses on accelerating the integration of AI and advanced technologies.
Similar to its neighbor, the UAE has actively pursued AI adoption.
UAE’s AI Strategy and Investments
In 2017, the UAE launched its National Strategy for Artificial Intelligence, which aims to make the country a global leader in the field by 2031. The UAE AI and Blockchain Council oversees this strategy, which impacts sectors like education, energy, and tourism.
The UAE is already reaping the benefits of its AI initiatives. In April, Microsoft announced a $1.5 billion investment in G42, an Abu Dhabi-based technology holding company. G42 is known for its data centers and the development of Jais, a leading Arabic-language AI model.
In September, G42 and Nvidia partnered to create AI-driven solutions for improved weather forecasting. The collaboration aims to advance climate-related technologies by using Nvidia’s Earth-2 platform, which enables AI-augmented climate and weather simulations.
Three months later, Abu Dhabi-based global technological ecosystem Hub71 partnered with Google to boost startup growth in the UAE. This collaboration will bring Google’s “Google for Startups” program to Abu Dhabi, including a dedicated accelerator for Hub71 startups in 2025.
He also drew attention to the planned convergence of AI and Web3 technologies in these prominent regions.
Convergence of AI, Web3, and IoT
Integrating the Internet of Things (IoT), blockchain, and AI technologies is gaining traction among businesses in the Middle East. By combining these technologies, organizations can access new avenues for growth, increase efficiency, and create novel user experiences.
In 2018, the Dubai Airport Freezone Authority launched Dubai Blink, a platform that integrates AI, blockchain, and virtual licenses to facilitate global trade. This system enhances supply chain innovation through ‘smart commerce’ by expediting trade with a unified online platform. Furthermore, it addressed the cumbersome process of supplier identification by using AI algorithms to streamline and accelerate the validation process.
Ultimately, MENA’s proactive approach to technological advancement, coupled with its strategic focus on Web3 and AI, signals a future where the region will be a pivotal architect in shaping the digital economy.
The resurgence in broader market activity over the past 24 hours has triggered an uptick in bullish bias towards Hedera (HBAR), with traders increasingly betting on further price gains.
HBAR’s long/short ratio has climbed to its highest level in the past month, signaling a shift in trader positioning.
Bullish Bets Push HBAR Toward Breakout Territory
HBAR’s long/short ratio currently stands at 1.09, its highest level in the past 30 days. This indicates a sharp rise in the demand for long positions among HBAR’s derivatives traders on Wednesday.
An asset’s long/short ratio measures the proportion of its long positions (bets on price increases) to short positions (bets on price declines) in the market. A ratio below one means there are more short positions than long ones.
Conversely, as in HBAR’s case, a long/short ratio reading above one indicates that traders are predominantly bullish on the altcoin, and are opening bets in favor of an extended price rally.
Moreover, HBAR’s rising futures open interest confirms the renewed demand for the altcoin. At press time, this is at $205 million, climbing 18% over the past day. HBAR’s value is up almost 10% within the same period.
Open interest refers to the total number of outstanding futures contracts that have not been settled. When open interest rises alongside price like this, it indicates that new money is entering the market to support the uptrend. This trend signals strong conviction behind the HBAR’s upward movement.
Can HBAR Break Out? Traders Watch $0.199 as Next Key Level
As of this writing, HBAR trades at $0.187, resting above the resistance formed at $0.190. If demand strengthens and HBAR bulls flip this price level into a support floor, the token could extend its uptrend and climb to $0.199.
On the other hand, if HBAR bears regain market control, this bullish projection will be invalidated. In this scenario, the token could lose its recent gains and fall to $0.153.
