Robinhood is adding Ripple's $2.5 billion RLUSD stablecoin to its app
Robinhood brings Ripple's RLUSD stablecoin to its trading app this year.
The short version
- The digital coin reached a $2.5 billion market value since launching.
- Robinhood already backs a rival token called USDG from Paxos.
- The new deal also brings Ripple's treasury software to Robinhood's operations.
Check your trading app this year. Robinhood, the commission-free stock and crypto trading platform, is adding Ripple's $2.5 billion RLUSD stablecoin to its app for retail customers, according to CoinDesk. The move gives the dollar-backed token access to a brokerage platform with roughly 28.6 million funded accounts.
Monica Long, president of Ripple, said the partnership reflects growing institutional demand for integrated solutions that support customer-facing offerings. The decision puts Robinhood in an unusual spot because it helped establish the Global Dollar Network in 2024 to promote USDG, a competing stablecoin issued by Paxos.
Other founding members of that network include Kraken, the cryptocurrency exchange platform; Galaxy Digital, a digital asset financial services firm; and Anchorage Digital, a digital asset platform. Robinhood already uses USDG as the default lending asset for Robinhood Earn, its onchain lending product.
Robinhood did not announce any changes to its USDG agreement, and it remains unclear whether RLUSD will be offered alongside USDG in the same products. The partnership also covers Robinhood's institutional business, with Bitstamp, the crypto exchange Robinhood acquired for $200 million in June, using RLUSD for settlement on the XRP Ledger.
Robinhood also plans to adopt Ripple's treasury software for cash management, payments, and forecasting. When your trading apps start trading rival coins side by side, even Wall Street gets to watch the competition play out in real time.
