Ripple and Coinbase have entered into a new partnership to bring Ripple USD (RLUSD), Ripple’s stablecoin, to Coinbase’s retail and institutional platforms, expanding its presence in the U.S. market.
RLUSD debuts on Coinbase platforms
Effective immediately, both retail and institutional clients can trade and manage RLUSD through Coinbase Prime, Coinbase Exchange, and the Coinbase retail app. The stablecoin is now accessible to a broad audience of users, allowing direct conversion between U.S. dollars, RLUSD, and other supported USD-denominated stablecoins at a one-to-one rate.
The integration aims to enhance liquidity and provide more options for users across Coinbase’s established trading and custody infrastructure. In addition, there are plans to enable RLUSD as collateral for crypto wallet users on Coinbase Global Exchange, further expanding its use cases.
Network and liquidity support
Deposits and withdrawals for RLUSD are now supported on the XRP Ledger, Ethereum, and Base, Coinbase’s native layer-2 network built on Ethereum. Ripple has committed to supply liquidity on Base to support this integration, offering users more flexibility in moving and utilizing their assets.
This arrangement places Ripple’s stablecoin directly within Coinbase’s execution, settlement, and digital asset custody services, targeting both everyday blockchain participants and larger institutional entities.
Mini dictionary: Base is a layer-2 blockchain solution developed by Coinbase to improve scalability and reduce transaction costs on Ethereum-based networks by offloading transactions from the main Ethereum chain.
Executive perspectives and institutional demand
Jack McDonald, Senior Vice President of Stablecoins at Ripple, stated that the partnership addresses the clear institutional need for compliant stablecoins, emphasizing their availability on platforms that clients trust. Brett Tejpaul, Co-CEO of Coinbase Institutional, described the listing as part of Coinbase’s broader strategy to become an “everything exchange,” providing clients with a range of assets tailored to various investment strategies in a regulated environment.
Jack McDonald explained that the collaboration between Ripple and Coinbase provides institutional clients with reliable access to compliant stablecoins through platforms they already trust for their digital asset needs.
Ripple USD, introduced in December 2024, has achieved a market capitalization exceeding $2.4 billion. The stablecoin is fully regulated and directly redeemable for U.S. dollars, being supported by reserves primarily in cash, short-term U.S. Treasuries, and other liquid cash equivalents.
Broader reach and next phase of adoption
Coinbase’s integration of RLUSD will span a diverse range of financial products, including spot trading, prime brokerage, derivatives, and applications in decentralized finance (DeFi).
Executives from both companies are scheduled to discuss the next phase of institutional stablecoin adoption at Ripple Swell, an annual industry event hosted by Ripple, taking place in New York on the same day as the announcement.
