Ripple and Coinbase announced on October 28 that Ripple’s dollar-backed stablecoin RLUSD is available through Coinbase’s retail app, Coinbase Exchange and its institutional Coinbase Prime platform. The companies said eligible customers can trade and manage the stablecoin, with supported deposits and withdrawals across the XRP Ledger, Ethereum and Base networks.
The joint company announcement published by Ripple describes one-to-one conversion from U.S. dollars and other supported dollar-denominated stablecoins into RLUSD. The arrangement expands the stablecoin’s distribution across consumer trading and institutional brokerage infrastructure.
RLUSD gains access to Coinbase platforms
On Coinbase Prime, institutional customers can access RLUSD alongside trading, settlement and custody services. Coinbase Exchange and the retail app extend access to other eligible users, although features and availability can vary by platform and jurisdiction.
Ripple said it will provide liquidity for RLUSD on Base, Coinbase’s Ethereum layer-2 network. Supporting deposits and withdrawals on three networks may give users more options for moving the asset, but users still need to verify the precise network and deposit instructions for a specific account.
Coinbase Global Exchange availability, including the possible use of RLUSD as collateral, is planned for a later stage. The companies did not announce that collateral feature as already live or specify its launch date.
Stablecoin distribution expands
Ripple’s October 28 statement said RLUSD had surpassed $2.4 billion in market capitalization since its December 2024 launch. This is a company-reported snapshot rather than a real-time market quote. The issuer describes RLUSD as redeemable for U.S. dollars and backed by reserves consisting of deposits, short-term Treasuries and cash-equivalent assets.
The companies position the integration as part of broader institutional demand for compliant digital-dollar payment and settlement tools. A listing alone, however, does not establish future transaction volumes, adoption or yield for holders.
How this differs from Ripple’s other deals
The Coinbase rollout is separate from the company’s recently announced agreements with other trading platforms. BlockBriefing previously covered Ripple and Robinhood’s RLUSD arrangements and BNY’s expanded XRP and RLUSD custody support.
The next meaningful milestones are actual RLUSD activity on Coinbase’s supported networks, wider regional availability and the later Global Exchange collateral integration. None of those should be assumed from today’s launch announcement alone.
Primary source: Ripple and Coinbase announcement, October 28, 2026.
