Coinbase adds Ripple’s RLUSD stablecoin across retail, exchange and Prime platforms
RLUSD is live on Coinbase with 1:1 USD conversion on XRP Ledger, Ethereum and Base, capping a big week of news for Ripple.
Coinbase, a prominent cryptocurrency exchange, has announced the addition of Ripple's stablecoin RLUSD to its platform. This expansion aims to enhance its range of dollar-backed crypto tokens. Ripple launched RLUSD in December 2024 to enable swift cross-border payments. As of now, RLUSD boasts a market capitalization exceeding $2.5 billion, according to CoinGecko.
Beginning from Wednesday, RLUSD will be accessible across both Coinbase's retail and institutional platforms. While Circle's USDC has traditionally been Coinbase's top stablecoin offering, the exchange has been gradually broadening its stablecoin portfolio. This now includes PayPal's PYUSD and Open USD, a stablecoin co-developed by Visa, Mastercard, and Coinbase.
Jack McDonald, Ripple's senior vice president of stablecoins, highlighted RLUSD's significance by emphasizing its listing on Coinbase as a "credentializing moment." Stablecoins, digital tokens pegged to traditional currencies like the US dollar, are primarily utilized for trading other cryptocurrencies and facilitating instant payments and corporate treasury management.
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