Coinbase has expanded its support for Ripple's RLUSD stablecoin, making it available across its Prime, Exchange, and retail app platforms. Customers can now convert U.S. dollars and other stablecoins into RLUSD at a 1:1 ratio, with deposits and withdrawals supported on the XRP Ledger, Ethereum, and Coinbase's Base network. The move is part of Coinbase's push toward an 'everything exchange,' offering clients a broad range of payment options and infrastructure for security and compliance.
This announcement comes amid a week of significant developments for Ripple. On Monday, Ripple received final approval from the Office of the Comptroller of the Currency (OCC) to launch a national trust bank, bringing RLUSD under federal oversight. The company also expanded its partnership with BNY Mellon to provide custody support for XRP and RLUSD, and explored tokenized trade finance with C2FO. Additionally, Ripple and Robinhood broadened their collaboration to bring RLUSD to Robinhood’s retail and institutional businesses.
Earlier on Wednesday, Moody's assigned RLUSD an A2 long-term and P-1 short-term deposit rating, citing the credit quality and market value of its reserve assets. Since its launch in December 2024, RLUSD has grown to a market capitalization of over $2.6 billion, according to Ripple.