Coinbase adds Ripple’s RLUSD across its trading platforms

Coinbase added Ripple’s dollar stablecoin RLUSD to Coinbase Prime, Coinbase Exchange and its retail app on Oct. 28, giving retail and institutional customers another way to trade and move the token. In a joint announcement published by Ripple, the companies said customers can convert U.S. dollars and other supported dollar stablecoins into RLUSD at a 1:1 rate.

The launch connects three parts of the process: Coinbase provides the trading and account services; RLUSD is the token customers can hold or transfer; and supported blockchains carry deposits and withdrawals. At launch, those networks are the XRP Ledger, Base and Ethereum. The network selected for a transfer determines which blockchain carries it, so the sender and receiving service need to support the same network.

How can Coinbase customers use RLUSD?

Customers in supported regions can trade and manage RLUSD through Coinbase Prime, Coinbase Exchange and the Coinbase retail app, Coinbase said. They can deposit or withdraw the token across the three supported networks. Coinbase also says customers can convert U.S. dollars into RLUSD at 1:1; Ripple’s announcement includes other supported USD-denominated stablecoins as conversion sources.

That conversion gives a customer a direct route from a dollar balance or eligible stablecoin balance into RLUSD on Coinbase. It does not mean every blockchain transfer is a dollar payment: once deposited or withdrawn, the token moves on the selected network. Ripple says RLUSD is redeemable for U.S. dollars and backed by reserves that include dollar deposits, short-term U.S. Treasuries and other cash equivalents.

What changes for RLUSD transfers?

Coinbase’s support adds a route for RLUSD to move between its platform and wallets or services using the XRP Ledger, Base or Ethereum. Ripple said it will provide liquidity on Base to support RLUSD there. Liquidity helps users trade or exchange the token on that network; it is separate from the reserves that back RLUSD.

Ripple said RLUSD launched in December 2024 and had surpassed $2.4 billion in market capitalization by the announcement. The figure is Ripple’s, and the release did not give a measurement timestamp beyond its Oct. 28 publication date.

When will RLUSD be usable as Coinbase collateral?

Coinbase Global Exchange customers will get access later, including the option to use RLUSD as collateral, according to both companies. That service was not live as part of the Oct. 28 launch, and they did not give a date for its arrival. For now, the confirmed change is access through Prime, Coinbase Exchange and the retail app, with transfers on three networks and 1:1 conversion available through Coinbase.

Sources and documents

• joint announcement published by Ripple — ripple.com