Ripple Adds RLUSD to Coinbase's Retail and Institutional Platforms

Ripple has partnered with Coinbase to add its dollar-backed Ripple USD (RLUSD) stablecoin to the exchange’s retail and institutional platforms, widening customer access to the token. Customers can trade and manage RLUSD through Coinbase Prime, Coinbase Exchange and Coinbase’s retail app. They can convert U.S. dollars and other supported dollar-denominated stablecoins into RLUSD at a 1:1 rate. Trading on Coinbase Global Exchange is planned for later. Customers there will also be able to use RLUSD as collateral. The Coinbase partnership follows Robinhood’s planned RLUSD app rollout and settlement partnership with Ripple .