Ripple’s stablecoin (RLUSD) launches across Coinbase’s platforms, with support across the XRP Ledger (XRPL), Base and Ethereum.
NEW YORK--(BUSINESS WIRE)--Ripple and Coinbase, two of the the leading providers of blockchain solutions across traditional and digital finance, today announced a partnership to bring Ripple USD (RLUSD) to Coinbase, significantly expanding market access and utility for the enterprise-grade stablecoin in the U.S.
Starting today, retail and institutional clients can trade and manage RLUSD through Coinbase Prime, Coinbase Exchange and the Coinbase Retail app, with 1:1 conversion from U.S. dollars and other supported USD-denominated stablecoins into RLUSD. Availability for Coinbase Global Exchange customers, including leveraging RLUSD as collateral, will follow.
“Institutional appetite for compliant, high-quality stablecoins is clear. The challenge is making them readily available through the platforms institutions already trust and use,” said Jack McDonald, SVP of Stablecoins at Ripple. “Our partnership with Coinbase meets that demand head on. It brings RLUSD to the largest institutional client base in the U.S. crypto market, across execution, settlement and custody — all in one place.”
"Institutions want access to a full range of payment options, alongside the execution, settlement, and custody they already rely on. 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," said Brett Tejpaul, Co-CEO, Coinbase Institutional.
Expanding RLUSD Access Across Markets
Support for deposits and withdrawals across XRPL, Base and Ethereum offers users greater flexibility to move RLUSD across blockchain ecosystems. On Base, Ripple will provide liquidity to support the growth of RLUSD.
Since launching in December 2024, RLUSD has surpassed $2.6 billion in market capitalization, driven by growing adoption across exchanges, payments, institutional markets and onchain finance. Together, these integrations extend RLUSD across spot trading, institutional prime brokerage, derivatives and DeFi, broadening both its distribution and utility.
RLUSD is a regulated, enterprise-grade stablecoin that is redeemable for U.S. dollars and backed by reserves including U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents. RLUSD is built for regulated finance, with transparency, trust, and institutional utility at its core.
Jack McDonald, SVP of Stablecoins at Ripple, will join Brett Tejpaul, Co-CEO of Coinbase Institutional on stage at Ripple Swell in New York City today, October 28 at 4:45pm ET to discuss the next phase of institutional stablecoin adoption.
About Ripple
Founded in 2012, Ripple is the leading provider of blockchain solutions rewiring the global financial system. With over 85 licenses, Ripple provides a single trusted entry point for enterprises with payments, custody, prime brokerage and treasury management solutions. Ripple’s stablecoin, RLUSD, and the digital asset XRP underpin these capabilities, enabling Ripple and its customers to bridge the worlds of traditional and digital finance.
About Coinbase
Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom in the world. The most trusted crypto platform, Coinbase stores more digital assets than any other company and is building the everything exchange — one place to access crypto, equities, derivatives, prediction markets, and more. Coinbase serves consumers through its suite of financial apps, institutions through Coinbase Prime, and developers through the Coinbase Developer Platform. Coinbase's full-stack platform was purpose-built to power the future of finance: secure custody, deep exchange liquidity, stablecoin infrastructure, and global settlement rails — all built on a decade-plus foundation of security and compliance.
Contacts
Media Contacts:
Ripple: Kailey Medzadourian, press@ripple.com
Coinbase: Jenna Valle-Riestra, press@coinbase.com