Coinbase adds Ripple’s RLUSD stablecoin to its platform

# Coinbase Adds Ripple’s RLUSD Stablecoin to Retail and Institutional Platforms

Coinbase has expanded its stablecoin offerings by listing Ripple’s US dollar-backed digital currency, RLUSD, across its retail and institutional platforms. The move gives the token access to a broader pool of cryptocurrency users as Ripple seeks to increase its use in cross-border payments and financial settlements.

According to Reuters, RLUSD became available on Wednesday through Coinbase’s retail app, Coinbase Exchange and Coinbase Prime. Customers can deposit and withdraw the token across three blockchain networks: the XRP Ledger, Base and Ethereum.

Launched in December 2024, RLUSD has a market capitalization of more than $2.5 billion, according to CoinGecko. Its addition to Coinbase represents a significant distribution opportunity for Ripple as competition intensifies among stablecoin issuers.

## Ripple Expands RLUSD’s Reach

RLUSD is designed to maintain a value equivalent to one US dollar and facilitate payments and settlements across blockchain networks. Ripple introduced the stablecoin to support near-instant cross-border transactions, positioning it for uses beyond cryptocurrency trading.

Jack McDonald, Ripple’s senior vice president of stablecoins, described the Coinbase listing as an important step in strengthening the token’s market credibility.

“It’s a really credentializing moment for RLUSD to not only be listed on Coinbase but to be embraced across the platform,” McDonald told Reuters.

The integration allows eligible Coinbase customers to convert US dollars into RLUSD at a one-to-one rate. Ripple will also provide liquidity on Base to support the stablecoin’s use on that blockchain.

By making RLUSD available through both retail and institutional services, Coinbase expands the channels through which customers can access the token. The listing could also help Ripple reach businesses and financial institutions exploring blockchain-based settlement options.

## Coinbase Broadens Its Stablecoin Portfolio

Coinbase has historically featured Circle’s USDC as its flagship stablecoin. The exchange has since expanded its selection to include PayPal’s PYUSD and Open USD, a stablecoin issued through a joint venture backed by Visa, Mastercard and Coinbase.

The addition of RLUSD reflects growing competition among stablecoin providers to secure listings on major cryptocurrency exchanges. Access to established platforms can help issuers reach individual traders, businesses and institutional investors.

Stablecoins are digital assets designed to maintain a relatively stable value, typically by being pegged to a traditional currency such as the US dollar. They are widely used in cryptocurrency trading and can also facilitate payments, cross-border transfers and corporate treasury operations.

## Stablecoins Compete for Payments and Settlement Use

For Ripple, the Coinbase listing provides another route to expand RLUSD adoption beyond its existing users. Greater availability across blockchain networks and customer platforms may support its efforts to establish the token in payments and financial settlement markets.

For Coinbase, adding another dollar-backed digital asset broadens its offerings as cryptocurrency exchanges seek to serve a wider range of financial activities.

The listing highlights the importance of distribution, blockchain accessibility and institutional participation in the stablecoin market, where issuers are competing to make their tokens useful for both cryptocurrency transactions and real-world financial operations.