App rollout builds on existing Bitstamp access
Ripple says RLUSD is already available through Robinhood Chain and Bitstamp by Robinhood. The main app launch remains scheduled for later this year, but Robinhood has not provided a detailed implementation timetable for its users.
The Bitstamp listing predates the partnership: trading in RLUSD began there in January 2025, according to Bitcoin.com News. Robinhood subsequently acquired the exchange for $200 million in June 2025, CoinDesk reported.
The potential customer reach is not yet clear. Ripple cited Robinhood's 28.6 million funded customer accounts globally; CoinDesk placed that figure at the end of August 2026 and said it spans services including brokerage and crypto trading. It is not a count of RLUSD users, and neither company has disclosed how many customers will be eligible for the token when it reaches the app.
Robinhood's existing stablecoin arrangements remain in place. CoinDesk reported no announced changes to its agreement involving Paxos's USDG alongside the Ripple deal. Robinhood helped establish the Global Dollar Network in 2024 to promote USDG, with Kraken, Galaxy Digital, Anchorage Digital and Bullish among the founding members. Arbitrum joined in October 2026.
In July 2026, the network said USDG would serve as the default lending asset for Robinhood Earn, Robinhood's onchain lending product. Adding RLUSD does not mean Robinhood has ended support for USDG.
Settlement, treasury services and financing
For institutional transactions, Robinhood plans to settle through Bitstamp using RLUSD on the XRP Ledger. Separately, it will adopt Ripple Treasury to manage liquidity, forecast cash flows, make payments, manage risk and handle transactions between companies within its corporate group.
The agreement also gives Bitstamp access to Ripple Prime lending facilities and margin financing covering about 20 digital assets. In the other direction, Ripple Prime clients can access crypto trading directly through Bitstamp.
Perpetual futures support through Ripple Prime and Bitstamp is targeted for the end of 2026; it is not yet an active service under this rollout. Decrypt described the partnership as an expansion from trading into cash management and financial infrastructure, with technical work still outstanding on some integrations.
That planned service is separate from Ripple Prime's October 15 introduction of real-world asset perpetual swaps. According to Bitcoin.com News, those swaps cover more than 100 reference markets across equities, commodities and currencies. Eligible clients can post RLUSD as collateral where jurisdictional rules allow.
In Ripple's announcement, President Monica Long linked the partnership to rising institutional demand for integrated services. Johann Kerbrat, Robinhood's senior vice president and general manager for Crypto and International, emphasized utility as the driver of stablecoin development.
RLUSD expands to Coinbase
One day after the Robinhood announcement, Coinbase made RLUSD available on Coinbase Prime, Coinbase Exchange and its retail app, Blockchain Reporter reported. The October 28 launch allows conversion into RLUSD at a 1:1 rate from U.S. dollars and other supported dollar-denominated stablecoins.
Coinbase supports deposits and withdrawals over the XRP Ledger, Ethereum and Base. It said collateral support for Global Exchange customers "will follow," without setting a date.
Ripple said RLUSD's market capitalization had surpassed $2.4 billion following its December 2024 launch. That figure measures token supply, not the value of transactions handled through Robinhood. CNBC reported a market capitalization above $2.5 billion as of the October 27 announcement.
RLUSD remains smaller than the two dominant stablecoins. Circle's USDC stood near $71 billion and Tether's USDT around $184 billion, while the overall stablecoin market exceeded $300 billion.
Ratings and trust bank approval
On October 27, Moody's Ratings gave RLUSD an A2 long-term deposit rating and a P-1 short-term deposit rating, both investment-grade, according to Blockchain Reporter. Jack McDonald, Ripple's senior vice president of stablecoins, described RLUSD as the first stablecoin to receive an investment-grade rating from Moody's.
Moody's said highly liquid, short-duration U.S. government assets and cash make up most of the reserve. Issuer Standard Custody & Trust Company targets reserve coverage of 103%, with holdings concentrated in U.S. Treasury bills and cash at The Bank of New York Mellon. Moody's rates that bank Aa1.
The ratings followed another regulatory development. Bitcoin.com News reported that Ripple received final approval for Ripple National Trust Bank from the U.S. Office of the Comptroller of the Currency on October 26, the day before the Robinhood partnership was announced.
The bank's approved activities include overseeing RLUSD reserves, providing fiduciary custody for digital assets and acting as a collateral trustee. RLUSD issuance will remain with Standard Custody & Trust Company, Ripple's limited purpose trust company regulated by the New York Department of Financial Services.
