Coinbase adds Ripple's RLUSD stablecoin across retail and institutional platforms

On October 28, 2026, cryptocurrency exchange Coinbase listed Ripple's RLUSD stablecoin across its retail app, Coinbase Exchange, and Coinbase Prime platforms, offering 1:1 conversions with U.S. dollars and support across XRP Ledger, Ethereum, and Base networks. The launch follows RLUSD reaching a market capitalization of $2.5 billion to $2.6 billion since its December 2024 launch. Moody's Ratings assigned RLUSD an A2 long-term rating, while Ripple secured OCC approval for a national trust bank.

Coinbase listing details for RLUSD

• ▪Coinbase users can convert U.S. dollars and supported dollar-denominated stablecoins into Ripple's RLUSD at a 1:1 ratio
• ▪Coinbase supports deposits and withdrawals for Ripple's RLUSD on the XRP Ledger, Ethereum, and Coinbase's Base network
• ▪Coinbase added Ripple's RLUSD stablecoin across its retail app, Coinbase Exchange, and Coinbase Prime platforms
• ▪Coinbase plans to expand support for Ripple's RLUSD to Coinbase Global Exchange, including using RLUSD as trading collateral

Coinbase stablecoin offerings

• ▪Coinbase has expanded its stablecoin platform offerings beyond Circle's USDC to include PayPal's PYUSD, Open USD, and Ripple's RLUSD
• ▪Visa, Mastercard, and Coinbase backed a joint venture to issue the Open USD stablecoin

RLUSD background and market Cap

• ▪Ripple's RLUSD stablecoin reached a market capitalization of $2.5 billion according to CoinGecko and approximately $2.6 billion according to Ripple
• ▪Ripple launched its RLUSD stablecoin in December 2024 to facilitate settlement of cross-border payments
• ▪Ripple's RLUSD reserves consist primarily of U.S. Treasuries and cash, with a reported reserve coverage target of 103%

Moody's credit rating for RLUSD

• ▪Moody's Ratings based the RLUSD ratings on the stablecoin's credit quality, short-term repayment capacity, and the market value of RLUSD's reserve assets
• ▪Moody's Ratings assigned Ripple's RLUSD stablecoin an A2 long-term rating and a P-1 short-term rating on October 28, 2026

Ripple national trust bank approval

• ▪Ripple's OCC national trust bank approval places Ripple's RLUSD stablecoin under federal oversight
• ▪Ripple received final approval from the OCC to launch a national trust bank

BNY and Ripple partnership

• ▪BNY expanded its strategic collaboration with Ripple to include XRP custody support, RLUSD custody support, and tokenized trade finance exploration
• ▪BNY and Ripple are exploring tokenized trade finance in collaboration with C2FO