Ripple and Coinbase announced a partnership on Oct. 28 that brings the RLUSD stablecoin to Coinbase's institutional and retail products. Customers in supported regions can trade and manage the token starting today.
RLUSD is available through Coinbase Prime, Coinbase Exchange and the Coinbase app. Coinbase said users can convert U.S. dollars into RLUSD at a 1:1 rate. The Ripple release adds that other supported USD-denominated stablecoins can be converted at the same rate.
Availability for Coinbase Global Exchange customers will follow. That phase includes the use of RLUSD as collateral, though neither company gave a date.
"Institutional appetite for compliant, high-quality stablecoins is clear. The challenge is making them readily available through the platforms institutions already trust and use," said Jack McDonald, SVP of Stablecoins at Ripple.
@Ripple 🤝🏼 @coinbase$RLUSD is coming to the largest U.S. crypto exchange, expanding access for retail and institutional markets, with support across @XRP, @Ethereum and @Base. https://t.co/iyz9RvoU7a
— Ripple (@Ripple) October 28, 2026
Three networks supported at launch
Users can deposit and withdraw RLUSD on the XRP Ledger, Base and Ethereum. Ripple said it will provide liquidity on Base to support the token's growth there.
The companies did not say how much liquidity Ripple plans to commit. They also did not disclose any fee arrangement between the two firms.
Ripple launched RLUSD in December 2024. Its release says the token has passed $2.4 billion in market capitalization.
Ripple's reserves include U.S. dollar deposits, short-term U.S. Treasuries and other cash equivalents, according to the company. It describes RLUSD as redeemable for U.S. dollars.
Why institutions are the target
Coinbase framed the listing around demand from large financial firms. Its blog post says seven of the ten largest U.S. banks have tested stablecoins or tokenized deposits for settlement. The other three have announced plans to do so, Coinbase said.
The figure comes from Coinbase and the post does not name the banks.
"Institutions want access to a full range of payment options, alongside the execution, settlement, and custody they already rely on. Adding RLUSD on Coinbase is another step toward the everything exchange," said Brett Tejpaul, co-CEO of Coinbase Institutional.
For Ripple, the listing adds a large U.S. venue. McDonald said the partnership brings RLUSD to the largest institutional client base in the U.S. crypto market. Coinbase did not publish client numbers to support that claim.
The two executives will discuss the partnership at Ripple Swell in New York at 4:45 p.m. ET on Oct. 28.
Federal rules shape the market
The listing comes as the U.S. puts new stablecoin rules in place. Ripple said in an earlier announcement that it will keep working with regulators as the country implements the GENIUS Act.
The GENIUS Act became law in July 2025. It requires permitted payment stablecoin issuers to hold reserves on a one-to-one basis with liquid assets such as U.S. currency and short-term Treasury bills. Issuers must also publish their redemption policies and disclose the composition of their reserves each month.
RLUSD is issued by Standard Custody & Trust Company, a trust company regulated by the New York Department of Financial Services. Ripple also received final approval from the Office of the Comptroller of the Currency this week to establish Ripple National Trust Bank. That bank will manage RLUSD's segregated reserves and act as collateral trustee for token holders. BNY remains the primary reserve custodian.
Ripple publishes monthly independent third-party attestations covering the stablecoin's circulating supply and reserve assets, the company said.
Neither Ripple nor Coinbase said whether RLUSD will be available outside supported regions. The release did not list those regions.
Anastasiia G
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