TheBlock
Coinbase has added Ripple's RLUSD stablecoin to Coinbase Prime, Coinbase Exchange and its retail app, opening access to both retail and institutional customers. Users can convert U.S. dollars and other supported dollar-denominated stablecoins into RLUSD at a 1:1 ratio, with deposits and withdrawals available on the XRP Ledger, Ethereum and Base.
Why it matters
The launch adds a major distribution channel as Ripple builds RLUSD's institutional footprint. This week, Ripple received final OCC approval to launch a national trust bank and bring RLUSD under federal oversight. It also expanded its custody partnership with BNY and its partnership with Robinhood, while exploring tokenized trade finance with C2FO.
Coinbase Institutional Co-CEO Brett Tejpaul said institutions want payment options alongside the execution, settlement and custody services they already use. Coinbase's broader platform gives RLUSD another route to customers seeking access to stablecoins through an established retail and institutional venue.
Market impact
Support for Coinbase Global Exchange customers, including the use of RLUSD as collateral, is expected to follow. That support is not yet live, making the planned expansion a key next step for the stablecoin's use on Coinbase.
Moody's assigned RLUSD A2 long-term and P-1 short-term deposit ratings, citing the credit quality and market value of its reserve assets. Launched in December 2024, RLUSD has surpassed $2.6 billion in market capitalization, according to Ripple. The Coinbase rollout adds distribution, while the ratings and federal oversight developments add to the institutional context around the stablecoin.
Frequently asked questions
-
Which Coinbase platforms now support Ripple's RLUSD?
RLUSD is available through Coinbase Prime, Coinbase Exchange and the Coinbase retail app for retail and institutional customers.
-
Which networks support RLUSD deposits and withdrawals on Coinbase?
Deposits and withdrawals are supported on the XRP Ledger, Ethereum and Coinbase's Base network.
-
Can Coinbase Global Exchange customers use RLUSD as collateral?
That support is expected to follow. The announcement does not say it is available yet.
-
What ratings did Moody's assign to RLUSD?
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.
-
How large is RLUSD's market capitalization?
Ripple says RLUSD has surpassed $2.6 billion in market capitalization. The stablecoin launched in December 2024.
WatcherGuru
CoinDesk
CryptoSlate
Crypto News
Crypto Rank News
CoinTelegraph