Coinbase Adds Ripple's RLUSD Stablecoin Across Its Platforms

Coinbase said on October 28 that it is adding Ripple's RLUSD stablecoin across its retail app, Coinbase Exchange and the institutional Coinbase Prime platform. Customers can convert U.S. dollars and other dollar stablecoins into RLUSD at 1:1. RLUSD, launched in December 2024, now has a market capitalization above $2.6 billion.

Details

The Block reports that Coinbase handles RLUSD deposits and withdrawals on three networks: the XRP Ledger, Ethereum and Base. Support for using RLUSD as collateral on Coinbase Global Exchange is still to come, with no date given (Bitcoin.com). The partnership was announced in a Business Wire press release.

Brett Tejpaul, Coinbase's institutional co-CEO, said institutions want a full range of payment options alongside execution, settlement and custody. Jack McDonald, Ripple's SVP of stablecoins, framed the challenge as making compliant, high-quality stablecoins available on platforms institutions already trust.

RLUSD is backed by cash deposits, short-term U.S. Treasuries and equivalent reserves.

What it means for the market

For RLUSD, the listing brings access to one of the largest U.S. crypto platforms, following a run of recent integrations: Ripple announced the Robinhood tie-up and an expanded BNY custody partnership in recent days. For Coinbase, it adds another dollar stablecoin to a lineup dominated by USDC and USDT.

Track XRP on /en/coins/ripple/ and see the wider picture in the daily brief. This is not investment advice.