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- Coinbase added Ripple USD to retail and institutional platforms for trading and custody.
- The rollout enables one-for-one conversions from U.S. dollars and supported stablecoins.
- Coinbase Global Exchange support and collateral use will follow at a later date.
Coinbase has added Ripple USD (RLUSD) to its retail app, Coinbase Prime and Coinbase Exchange, opening trading and custody access for customers in supported regions.
The Oct. 28 rollout includes one-for-one conversions from U.S. dollars and supported dollar stablecoins. Support for Coinbase Global Exchange, including collateral use, will follow later.
Customers Can Convert Dollars and Supported Stablecoins at 1:1
Retail customers can trade and hold RLUSD through the Coinbase app, while institutional clients gain access through Prime and Exchange. The listing brings the stablecoin into platforms that institutions already use for execution, settlement, and custody.
Jack McDonald, Ripple’s senior vice president of stablecoins, said:
“[…] The challenge is making them readily available through the platforms institutions already trust and use.”
The conversion facility allows customers to exchange dollars or other supported dollar-denominated stablecoins for RLUSD at par. The launch announcements do not identify every eligible stablecoin, trading pair or country.
Coinbase’s Prime asset guidance says availability can differ according to a client’s location and the Coinbase entity providing custody. Institutional clients can check the assets available to their accounts through the Prime interface.
Transfers Support XRP Ledger, Base, and Ethereum
Customers can deposit and withdraw RLUSD through the XRP Ledger, Base, and Ethereum. This provides routes between Coinbase and compatible external wallets across those three blockchain networks.
Ripple will also provide liquidity on Base to support RLUSD use there. The companies have not disclosed the size of that commitment yet.
Access for Coinbase Global Exchange customers will follow as a subsequent stage of the partnership, intended to include using RLUSD as collateral. Although neither company provided a start date for the service.
RLUSD Is Backed by Dollar Deposits and Short-Term Treasuries
RLUSD launched in December 2024 and is designed to track the U.S. dollar. The token is redeemable for dollars and backed by reserves that include dollar deposits, short-term U.S. Treasuries and other cash equivalents.
The stablecoin is issued by Standard Custody & Trust Company, a Ripple subsidiary operating as a New York-regulated trust. Its reserves are held in segregated accounts, and Ripple publishes monthly third-party attestations covering the assets supporting outstanding tokens.
