Summary
- Ripple said it is expanding RLUSD-based services through Coinbase Prime, Exchange and its investor app under a partnership with Coinbase.
- Ripple said RLUSD deposits and withdrawals will be supported on three blockchains — the XRP Ledger, Base and Ethereum — and that it plans to provide liquidity within the Base ecosystem.
- Ripple said RLUSD recently surpassed a $2.6 billion market capitalization and plans to later introduce a feature allowing it to be used as collateral on Coinbase Global Exchange.
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Ripple, the issuer of XRP, has partnered with U.S. cryptocurrency exchange Coinbase to expand services tied to its dollar stablecoin RLUSD.
Ripple said on October 28 that RLUSD can now be traded and managed on Coinbase Prime, Coinbase Exchange and Coinbase’s investor app. Coinbase also offers one-to-one conversions between dollars and dollar stablecoins.
RLUSD deposits and withdrawals will be supported across three blockchains: the XRP Ledger, Base and Ethereum. Ripple also plans to provide liquidity to support RLUSD use within Coinbase’s Base ecosystem.
Services for Coinbase Global Exchange users will be introduced later. They are set to include a feature allowing RLUSD to be used as collateral.
Jack McDonald, Ripple’s senior vice president of stablecoins, said it is important for institutions to be able to use a regulation-compliant stablecoin easily on platforms they already use. Through the partnership, Ripple aims to improve access to RLUSD across trading, settlement and custody.
Separately, Ripple said RLUSD recently surpassed a $2.6 billion market capitalization. It reached that milestone in about two years after its launch in December 2024.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul