Coinbase has added Ripple’s stablecoin, RLUSD, to its exchange platform. This marks an expansion of the exchange’s offerings of dollar-backed crypto tokens. Ripple launched RLUSD in December 2024 to enable near-instant cross-border payments. The stablecoin now has a market capitalization exceeding $2.5 billion, according to CoinGecko.
RLUSD will be available starting Wednesday across Coinbase’s retail and institutional platforms. The move follows Coinbase’s previous additions of PayPal’s stablecoin and Open USD, a token issued through a joint venture involving Visa, Mastercard, and Coinbase. Circle’s USDC had been the primary stablecoin offered by Coinbase for years.
Jack McDonald, senior vice president of stablecoins at Ripple, called the listing a “credentializing moment” for RLUSD. Stablecoins are digital tokens designed to maintain a constant value, typically backed by traditional currencies like the US dollar. They are widely used for trading other cryptocurrencies and facilitating instant payments.