Ripple and Coinbase today announced a new partnership that expands RLUSD’s reach in the US market. With this agreement, the stablecoin is available for trading and management on Coinbase Prime, Coinbase Exchange, and the personal app.
Users will be able to convert RLUSD one-to-one from US dollars and other supported dollar stablecoins. Deposits and withdrawals will be supported via XRP Ledger, Ethereum, and Base.
Ripple also announced it will provide liquidity to grow the use of RLUSD on Coinbase’s Base network. This collaboration will encompass not only the exchange’s integration but also the transfer of the stablecoin across different blockchains.
The next phase plans to provide access to Coinbase Global Exchange customers and allow them to use RLUSD as collateral. A specific date for the rollout of these features has not been shared.
Jack McDonald, Ripple’s head of stablecoins, highlighted the importance of institutions being able to access regulated stablecoins through the platforms they already use.
Launched in December 2024, RLUSD has reached a market capitalization exceeding $2.4 billion, according to the company. The Coinbase deal will expand the stablecoin’s use case, ranging from spot trading to institutional custody and potentially to derivatives markets in the future.
*This is not investment advice.
