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Ripple Brings Its Stablecoin to Coinbase’s Trading Platforms

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Ripple Brings Its Stablecoin to Coinbase’s Trading Platforms

Ripple has begun listing its RLUSD stablecoin on Coinbase’s institutional and retail platforms.

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Clients can now trade and manage RLUSD through Coinbase Prime, Coinbase Exchange, and the Coinbase Retail application, Ripple announced Wednesday (Oct. 28), with availability on Coinbase Global Exchange, including the use of RLUSD as trading collateral, set to follow.

“Institutional appetite for compliant, high-quality stablecoins is clear,” Jack McDonald, senior vice president of stablecoins at Ripple, said in a news release.

“Our partnership with Coinbase brings RLUSD to the largest institutional client base in the U.S. crypto market, across execution, settlement and custody – all in one place.”

According to the release, the integration allows for deposits and withdrawals across three blockchain ecosystems: Ripple’s XRP Ledger (XRPL), Ethereum mainnet, and Base, Coinbase’s Layer-2 network.

Under the partnership, Ripple will provide liquidity on Base to bolster trading volume and asset movement, with the arrangement distributing Ripple’s coin across spot trading, institutional prime brokerage, derivatives markets and decentralized finance (DeFi) protocols.

“Institutions want access to a full range of payment options, alongside the execution, settlement, and custody they already rely on,” Coinbase Institutional Co-CEO Brett Tejpaul said.

“Adding RLUSD on Coinbase is another step toward one venue where clients choose the assets that fit their strategy.”

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