Robinhood adopts Ripple’s RLUSD stablecoin, expands institutional services

Robinhood is adopting Ripple ’s RLUSD stablecoin, treasury software, and institutional services, as reported by Decrypt. This development marks an expansion of the existing relationship between Robinhood and Ripple, with RLUSD already operational on Robinhood Chain and Bitstamp. The integration will see RLUSD used on the XRP Ledger for institutional settlement, enhancing Robinhood’s financial infrastructure with Ripple Treasury for liquidity and risk management. The RLUSD stablecoin, pegged to the US dollar, had a market capitalization of approximately $2.6 billion as of late October. Market participants will be keenly observing any price movements in XRP as a result of this partnership.