Coinbase adds Ripple’s RLUSD stablecoin across retail, exchange and Prime platforms
Ripple's RLUSD stablecoin is now available to retail and institutional customers through Coinbase Prime, Coinbase Exchange and the Coinbase retail app, the companies announced Wednesday.Customers can convert U.S. dollars and other supported dollar-denominated stablecoins into RLUSD at a 1:1 ratio, with deposits and withdrawals supported on the XRP Ledger, Ethereum and Coinbase's Base network. Support for Coinbase Global Exchange customers, including using RLUSD as collateral, is expected to follow."Institutions want access to a full range of payment options, alongside the execution, settlement, and custody they already rely on," said Brett Tejpaul, Co-CEO, Coinbase Institutional, in a release. "Adding RLUSD on Coinbase is another step toward the everything exchange — one venue where clients choose the assets that fit their strategy, on infrastructure built for security and compliance."It's just the latest announcement in what's been a busy week for Ripple's institutional growth.On Monday, Ripple received final OCC approval to launch a national trust bank and bring RLUSD under federal oversight. It then expanded its partnership with BNY to provide custody support to XRP and RLUSD while exploring tokenized trade finance with C2FO. Ripple and Robinhood also expanded their partnership to bring RLUSD to Robinhood’s retail and institutional businesses.Earlier Wednesday, Moody's gave RLUSD A2 long-term and P-1 short-term deposit ratings, citing credit quality and market value of its reserve assets.The RLUSD stablecoin, which launched in December 2024, has surpassed $2.6 billion in market capitalization, according to Ripple.