Ripple and Coinbase announced a partnership on October 28, 2026, to bring Ripple USD (RLUSD) to Coinbase's trading platforms, making the stablecoin available to retail and institutional customers through the Coinbase retail app, Coinbase Exchange and Coinbase Prime. Ripple detailed the partnership in an official press release. The listing gives RLUSD a direct distribution channel to Coinbase's retail and institutional customer bases.

Users can convert U.S. dollars and other supported dollar-denominated stablecoins into RLUSD at a 1:1 rate. The rollout supports deposits and withdrawals across the XRP Ledger (XRPL), Ethereum and Base, the Coinbase-operated Ethereum layer-2 network, enabling users to move the stablecoin between the three blockchains through supported transactions. Ripple will additionally provide liquidity on Base to support RLUSD activity on that network. Multichain availability of this kind is common among large stablecoins, as it lets users route transfers through whichever network best suits their needs.

RLUSD, which Ripple launched in December 2024, has surpassed $2.4 billion in market capitalization, according to figures cited in the announcement. The stablecoin is redeemable for U.S. dollars and backed by reserves that include dollar deposits, short-term U.S. Treasuries and other cash equivalents, a reserve composition consistent with standard fiat-backed stablecoin structures. Ripple describes the product as a regulated stablecoin designed for enterprise use.

Access Across Coinbase Products and Three Blockchains

The partnership extends RLUSD across spot trading, institutional prime brokerage, derivatives and decentralized finance (DeFi). Coinbase Global Exchange customers will receive access at a later stage, including the ability to use the stablecoin as collateral. A specific timeline for that rollout was not included in the announcement, making the timing of Global Exchange access and collateral functionality the part of the integration still to be detailed. The companies said the collaboration supports RLUSD's use across both retail and institutional trading flows.

Executives Point to Institutional Demand

Jack McDonald, Ripple's senior vice president of stablecoins, said institutions want compliant stablecoins available through the platforms they already use. He said the partnership brings RLUSD to Coinbase's institutional client base for execution, settlement and custody.

Brett Tejpaul, co-CEO of Coinbase Institutional, said adding RLUSD expands payment options for the exchange's institutional customers. He also described the move as part of Coinbase's broader effort to offer trading and related services through a single platform.