Ripple's RLUSD stablecoin has become the first to receive an investment-grade credit rating from Moody's, a major credit rating agency. Moody's assigned RLUSD an A2 long-term rating and a P-1 short-term rating, with P-1 representing the highest possible short-term grade under Moody's stablecoin framework.
The rating followed Moody's review of multiple operational aspects, including the credit quality and liquidity of RLUSD's reserves, custody relationships, regulatory oversight, and operational controls. The agency also assessed the stablecoin's redemption process, which requires eligible institutional holders to receive funds at par value within two full business days after a compliant request.
Moody's highlighted several safeguards supporting RLUSD operations: daily reserve monitoring, weekly liquidity stress tests, monthly independent CPA attestations, and cybersecurity controls. However, the agency noted that RLUSD holders do not currently have direct ownership of reserve assets and that the issuer is not bankruptcy-remote. Moody's indicated that weaker reserves, liquidity, redemption capacity, or operational controls could trigger a downgrade.
The rating arrives as RLUSD expands its institutional partnerships. Ripple recently announced integrations with Robinhood for institutional settlement, treasury management, and digital asset services. RLUSD is available on Robinhood Chain and Bitstamp by Robinhood, with a launch on Robinhood's main application expected later this year.
Cross River Bank has partnered with Ripple to integrate RLUSD into its banking platform for payments, cross-border transfers, and treasury transactions. Standard Chartered launched institutional custody support for the token through its Dubai branch and is exploring its use as collateral for selected trading products alongside Ripple and LMAX Group.
