Ripple has announced that its stablecoin, RLUSD, is now available on Coinbase platforms, offering expanded access for both retail and institutional clients in the United States. Starting today, users can trade and manage RLUSD through Coinbase Prime, Coinbase Exchange, and the Coinbase Retail app, with seamless 1:1 conversion from U.S. dollars and other supported USD-denominated stablecoins. The stablecoin operates across the XRP Ledger, Base, and Ethereum blockchains.
Launched in December 2024, RLUSD has achieved a market capitalization of $2.6 billion. It is redeemable for U.S. dollars and backed by reserves including U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents. Jack McDonald, SVP of Stablecoins at Ripple, emphasized the importance of making stablecoins accessible through trusted platforms, noting that the partnership with Coinbase meets this demand.
Brett Tejpaul, Co-CEO of Coinbase Institutional, described the addition of RLUSD as another step toward the 'everything exchange.' Coinbase Global Exchange customers will gain access to RLUSD at a later date, including the ability to use it as collateral. On Base, Ripple will provide liquidity to support RLUSD growth.
Ripple holds over 85 licenses and offers blockchain solutions including payments, custody, prime brokerage, and treasury management. Coinbase operates as a cryptocurrency platform serving consumers, institutions, and developers. McDonald and Tejpaul are scheduled to discuss institutional stablecoin adoption at Ripple Swell in New York City today at 4:45pm ET.