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US blockchain payments company Ripple and US crypto exchange Coinbase have partnered to make Ripple's US dollar stablecoin, Ripple USD (RLUSD), available across Coinbase's platforms, with support on the XRP Ledger (XRPL), Base and Ethereum.
The companies announced the partnership on 28 October 2026, the same day Ripple opened its Swell 2026 conference in New York.
Retail and institutional clients can now trade and manage RLUSD through Coinbase Prime, Coinbase Exchange and the Coinbase retail app, with 1:1 conversion from US dollars and other supported USD-denominated stablecoins into RLUSD. Deposits and withdrawals are supported across XRPL, Base and Ethereum. Ripple will provide liquidity on Base to support the growth of RLUSD.
Availability for Coinbase Global Exchange customers, including the use of RLUSD as collateral, will follow. The companies did not give a date.
RLUSD's Growth
RLUSD launched in December 2024 and has passed $2.6 billion in market capitalisation, according to Ripple. It is backed by reserves including US dollar deposits, short-term US Treasuries and other cash equivalents. This week Ripple received final approval from the Office of the Comptroller of the Currency (OCC) for Ripple National Trust Bank, which will manage RLUSD reserves, and Moody's assigned RLUSD A2 and P-1 deposit ratings, which Ripple described as the first investment-grade Moody's rating for a stablecoin.
RLUSD is also used as collateral within Ripple Prime, the prime brokerage business Ripple launched after acquiring Hidden Road, which recently added support for RWA perpetual swaps.
$900 Million Run Rate
In a separate release, Ripple said it is on track to exit 2026 with $900 million in annualised product revenue, with customers and partners growing threefold this year. It announced multi-solution partnerships with BNY and US broker Robinhood (@robinhood), among others. Coinbase has also been expanding its stablecoin business, including a strategic collaboration with Thunes on global stablecoin payments.
"Institutional appetite for compliant, high-quality stablecoins is clear. The challenge is making them readily available through the platforms institutions already trust and use. Our partnership with Coinbase meets that demand head on. It brings RLUSD to the largest institutional client base in the U.S. crypto market, across execution, settlement and custody - all in one place." - Jack McDonald, SVP of Stablecoins, Ripple
"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 - one venue where clients choose the assets that fit their strategy, on infrastructure built for security and compliance." - Brett Tejpaul, Co-CEO, Coinbase Institutional
"As traditional and digital finance converge, market infrastructure is migrating to modern rails. Settlement is moving to real-time, 24/7, and tokenized assets can be traded, financed and used as collateral. Ripple is at the epicenter of this massive transformation to rewire the world's financial system, solving the inefficiencies that have slowed money movement for decades with digital assets like XRP. Others focus on individual pieces of the puzzle – Ripple is bringing all of that together, with our partners, to enable the Internet of Value." - Brad Garlinghouse, CEO, Ripple
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