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Ripple strikes deal with Robinhood to expand its RLUSD digital dollar
Ripple has struck a deal with Robinhood to expand the reach of its digital dollar, RLUSD, strengthening trading and financing links between their institutional businesses and improving Robinhood's internal money management.
The partnership involves using RLUSD to settle institutional trades, automate Robinhood's treasury operations and expand access to digital asset trading and financing through Ripple Prime and Bitstamp, the global crypto exchange acquired by Robinhood last year.
It also helps meet Robinhood's ambition of becoming a global financial superapp, centralizing its customers' financial lives while expanding the underlying infrastructure that can serve both retail and institutional clients.
"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," Robinhood Crypto General Manager Johann Kerbrat said in a statement shared with CNBC. "That is what a connected, global financial system looks like."
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Ripple's RLUSD Grew 88% This Year While XRP Fell 29%. Is the Stablecoin Replacing XRP?
Ripple's stablecoin is landing on Coinbase, powering repo markets, and earning a Moody's credit rating while XRP sits at a one-year low. Whether RLUSD is complementing XRP or quietly crowding it out depends on details Ripple is not spelling out.
Ripple announced that its stablecoin, Ripple USD (CRYPTO: RLUSD), has grown 88% in 2026, pushing its market cap to $2.6 billion. In contrast, XRP (CRYPTO: XRP) has declined about 31% during the same period. At the recent Swell conference in New York, Ripple showcased RLUSD to Wall Street, and the stablecoin has launched on Coinbase (NASDAQ: COIN | COIN Price Prediction) Prime, Coinbase Exchange, and the Coinbase retail app, utilizing the XRP Ledger, Base, and Ethereum networks.
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