Coinbase lists Ripple's RLUSD as coin stock focus grows
Coinbase has added Ripple's dollar-backed stablecoin RLUSD across its retail app, exchange, and institutional Prime platforms, widening access for traders and institutions. For coin stock watchers tracking Coinbase Global, the listing expands the exchange's stablecoin lineup beyond USDC as Ripple's RLUSD tops $2.5 billion in market value.
Key Takeaways
- Coinbase listed Ripple USD (RLUSD) on its retail app, Coinbase Exchange, and Coinbase Prime.
- RLUSD launched in December 2024 and now carries a market capitalization above $2.5 billion.
- Coinbase has broadened beyond Circle's USDC to tokens including PayPal's PYUSD and Open USD.
- Ripple also struck a Robinhood deal to expand RLUSD for institutional settlement and treasury use.
- RLUSD grew about 88% in 2026 even as XRP fell roughly 29% to 31% over the same period.
Why does Coinbase listing Ripple's RLUSD matter?
According to Reuters, Coinbase is adding RLUSD to expand its slate of dollar-backed crypto tokens. The move is a boost for Ripple, which introduced the stablecoin in December 2024 to help settle cross-border payments near instantly.
Jack McDonald, Ripple's senior vice president of stablecoins, called the listing a credentializing moment for RLUSD because it is embraced across Coinbase's platform, not only listed. Coverage in BlasterPost's Fintech & Crypto Alerts hub tracks how exchange distribution can reshape stablecoin competition.
For years, Circle's USDC was Coinbase's flagship stablecoin for customers. Reuters notes Coinbase has gradually expanded offerings to include PayPal's PYUSD and Open USD, a joint-venture stablecoin backed by Visa, Mastercard, and Coinbase.
How big is RLUSD compared with other stablecoins?
RLUSD's market capitalization sits above $2.5 billion, per CoinGecko data cited by Reuters, while 24/7 Wall St. pegs roughly $2.6 billion after an 88% rise in 2026. That growth still leaves RLUSD far behind market leaders.
CNBC reports Tether's USDT and Circle's USDC still dominate a total stablecoin market that now exceeds $300 billion. 24/7 Wall St. notes Coinbase helped launch USDC and shares in its reserve income, so listing RLUSD does not erase that competitive dynamic.
Stablecoins are designed to hold a steady value, typically backed by traditional currencies such as the U.S. dollar. Traders mainly use them to move in and out of other crypto assets, though proponents also pitch instant payments and corporate treasury management.
What else is Ripple doing to expand RLUSD?
Days before the Coinbase news cycle, CNBC reported Ripple struck a deal with Robinhood to expand RLUSD. The partnership aims to settle institutional trades, automate Robinhood treasury operations, and widen digital-asset trading and financing via Ripple Prime and Bitstamp.
Robinhood Crypto General Manager Johann Kerbrat said working with Ripple gives Bitstamp and Robinhood access to RLUSD for institutional settlement, Ripple Treasury for operations, and Ripple Prime for financing. Ripple President Monica Long told CNBC stablecoins have evolved into critical financial infrastructure, from corporate payments to capital markets.
24/7 Wall St. adds that RLUSD is live on Coinbase across the XRP Ledger, Base, and Ethereum networks. Ripple CEO Brad Garlinghouse said at the Swell conference that the company would not abandon XRP and that RLUSD supports it, even as some dollar settlement roles may favor the stablecoin.
Read the Reuters report for the primary exchange announcement and keep watching how broader RLUSD distribution intersects with Coinbase's platform strategy.