Ripple's RLUSD stablecoin went live Tuesday on Robinhood Chain and Bitstamp, with availability on the main Robinhood app expected later this year.

Robinhood, the trading app with 28.6 million funded customers, is integrating a digital dollar built by Ripple, the company whose founders created the XRP cryptocurrency. According to Ripple's announcement, the RLUSD token began trading Tuesday on Robinhood's proprietary blockchain and on Bitstamp, the crypto exchange Robinhood owns, and is expected to reach the main Robinhood app later this year.

RLUSD is a stablecoin — a crypto token designed to always be worth one U.S. dollar — which allows money to move across a blockchain without waiting for banks to open. It launched in December 2024, and Ripple said its market capitalization, the combined value of every token in circulation, now tops $2.5 billion.

Under the expanded arrangement, Robinhood will adopt Ripple Treasury to run its global cash operations and will use RLUSD on the XRP Ledger for institutional settlement at Bitstamp. Taken together, the deal weaves Ripple's technology through three parts of Robinhood's operation: settling institutional trades at Bitstamp, running the company's global cash operations, and financing institutional trading.

Ripple Treasury is software that manages a company's cash, from payments to cash-flow forecasts and risk. That includes intercompany netting, which offsets what a company's own divisions owe one another so fewer payments have to move.

Institutional settlement is the step where a large trade is finalized and paid for. Robinhood will use RLUSD on the XRP Ledger, the blockchain behind XRP, across Bitstamp's institutional business.

Ripple Prime, a prime broker that lends money and clears trades for hedge funds and other large institutions, already provides Bitstamp with lending and margin financing — borrowed money for trading — across roughly 20 digital assets. Ripple paid $1.25 billion for the firm in a deal announced in April 2025, when it was still called Hidden Road. Prime clients also get access to spot trading on Bitstamp, which means buying at the current market price, and later this year Prime will support perpetual futures there — contracts that bet on a coin's future price and never expire.

Robinhood closed its purchase of Bitstamp, one of the world's longest-running crypto exchanges, in June 2025 for about $200 million, and most of the exchange's volume comes from institutions — the same segment where RLUSD will now be used for settlement.

"Utility is what moves stablecoins forward. Working with Ripple, Bitstamp and Robinhood will have access to RLUSD for institutional settlement, Ripple Treasury for our operations, and Ripple Prime for financing," said Johann Kerbrat, senior vice president and general manager of Robinhood Crypto and International. "That is what a connected, global financial system looks like."

The partnership marks a notable turn in the relationship between the two companies. Robinhood pared back its crypto listings during the SEC crackdown on Ripple and other crypto companies, and only added XRP for U.S. customers in November 2024. Ripple's software will now help run Robinhood's own treasury department.

Robinhood cut about 10% of its staff in June, after revenue from its crypto transaction business fell 34% in the first quarter to $134 million. The company will report its third-quarter results after the market closes on Tuesday, the first report to cover a full quarter since the July 1 launch of Robinhood Chain — and the same day RLUSD went live on Robinhood Chain and Bitstamp.