Ripple's RLUSD stablecoin is now available across Coinbase's retail app, the Coinbase exchange, and Coinbase Prime, giving institutional and individual clients access to the asset through the same infrastructure they use for other cryptocurrencies.
The listing extends RLUSD's reach through one of the largest crypto platforms in the United States and moves the stablecoin beyond payments and settlement into a broader trading and custody environment.
Dollar Conversion at 1:1
Users can convert U.S. dollars and supported dollar-denominated stablecoins into RLUSD on a 1:1 basis, according to the announcement. Support on Coinbase Global Exchange, including the ability to use RLUSD as collateral, is expected to follow.
"Institutional appetite for compliant, high-quality stablecoins is clear," Jack McDonald, Ripple's senior vice president of stablecoins, said in the announcement. "The challenge is making them readily available through the platforms institutions already trust and use."
Brett Tejpaul, co-CEO of Coinbase Institutional, said access to RLUSD on Coinbase allows clients to "choose the assets that fit their strategy, on infrastructure built for security and compliance."
Multichain Support Across Three Networks
Coinbase will support deposits and withdrawals on the XRP Ledger, Base, and Ethereum, making it easier for users to move the stablecoin between blockchain ecosystems. Ripple will also provide liquidity on Base to help deepen RLUSD markets there.
The company framed the arrangement as a distribution win, pointing to growing competition over liquidity and interoperability alongside market capitalization.
$2.6 Billion Market Cap and Reserve Backing
Since launching in December 2024, RLUSD has grown to more than $2.6 billion in market capitalization, with adoption spanning exchanges, payments, institutional markets, and decentralized finance.
The stablecoin is redeemable for U.S. dollars and backed by reserves that include cash deposits, short-term U.S. Treasuries, and other cash equivalents.
