Ripple has partnered with Robinhood to expand the reach of its digital dollar, RLUSD, enhancing trading and financing capabilities for institutional clients. The collaboration will allow RLUSD to be used for settling institutional trades, automating Robinhood's treasury operations, and broadening access to digital asset trading and financing through Ripple Prime and Bitstamp, a crypto exchange acquired by Robinhood last year.
Robinhood Crypto general manager Johann Kerbrat highlighted the partnership's benefits, stating that it will enable Robinhood to use RLUSD for institutional settlement, Ripple Treasury for operations, and Ripple Prime for financing. This move aligns with Robinple's goal of becoming a global financial super-app, centralizing customers' financial activities and serving both retail and institutional clients.
Stablecoins like RLUSD are becoming essential financial infrastructure due to their ability to facilitate near-instant settlement and move dollar-denominated value at any time. Ripple President Monica Long emphasized that stablecoins have evolved from trading tools into critical financial infrastructure, now embedded in corporate payments and capital markets. The partnership reflects this evolution, aiming to change how money moves and is managed, enabling institutions to operate 24/7.
Circle Internet Group, a competitor, is also positioning itself for a future where stablecoin issuers provide the necessary infrastructure. Earlier this year, Circle launched the Circle Payments Network, connecting financial institutions using its USDC stablecoin. RLUSD, with a market cap exceeding $2.5 billion, will also be listed on Robinhood's trading platform and is available on Bitstamp and Robinhood Chain.