Ripple and Coinbase announced a partnership on October 28 that brings Ripple USD (RLUSD) to Coinbaseās retail and institutional platforms, expanding access to the stablecoin across the U.S. market.
Starting immediately, retail and institutional clients can trade and manage RLUSD through Coinbase Prime, Coinbase Exchange, and the Coinbase retail app. Users can convert U.S. dollars and other supported USD-denominated stablecoins into RLUSD on a 1:1 basis.
Whatās Included In Coinbaseās Deal With Ripple
Crypto wallet support for Coinbase Global Exchange customers, including the cutting-edge ability to use RLUSD as collateral is expected to follow.
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Deposits and withdrawals are made available across the XRP Ledger, Base, and Ethereum. Ripple will supply liquidity on Base to support activity there.
The move places Rippleās multi-faceted native stablecoin inside Coinbaseās existing execution, settlement & digital asset custody infrastructure for both every-day blockchain consumers and big-time institutions.
Jack McDonald, SVP of Stablecoins at Ripple, said the partnership addresses clear institutional demand for compliant stablecoins by making them available on platforms clients already trust.
Brett Tejpaul, Co-CEO of Coinbase Institutional, described the listing as another step toward an āeverything exchangeā where clients can choose the assets that fit their strategies on compliant infrastructure.
RLUSD, launched in December 2024, has grown past $2.4 billion in market capitalization. It is a regulated stablecoin redeemable for U.S. dollars and backed by reserves that include dollars, short-term U.S. Treasuries & other miscellaneous cash equivalents.
The Coinbase integration extends its reach across spot trading, prime brokerage, derivatives, and DeFi use cases.
The two companiesā executives are set to discuss the next phase of institutional stablecoin adoption at Ripple Swell in New York on the same day.
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