Starting Wednesday, October 28, 2026, Ripple officially introduced its US dollar-pegged stablecoin, Ripple USD (RLUSD), on Coinbase. The integration opens access for both retail and institutional investors across Coinbase Prime, Coinbase Exchange, and the Coinbase consumer application.
The partnership goes beyond a routine asset listing, establishing transaction pathways that span three separate blockchains.
Simultaneous Access Across Three Blockchains
Network support is live across three blockchains: the XRP Ledger (XRPL), Ethereum, and Coinbase’s Layer-2 network Base. Deposit and withdrawal functionality is already active on all three network rails.
Users can freely trade, custody, and convert the asset at a 1:1 ratio. This flat conversion applies to US dollar cash as well as other eligible dollar stablecoins on Coinbase.
Executives from both entities underscored the importance of regulatory compliance for institutional investors. Ripple’s Senior VP of Stablecoins, Jack McDonald, stated that the Coinbase partnership directly answers surging institutional demand for compliant dollar tokens on trusted platforms. Coinbase Institutional Co-CEO Brett Tejpaul added that the collaboration aligns with their strategy to expand asset options and multi-chain payment infrastructure for institutional clients.
Dedicated Liquidity Injection on Base
Ripple has committed a dedicated liquidity injection to stimulate RLUSD adoption and circulation within the Base ecosystem. On the Layer-2 network, USDC still commands the vast majority of decentralized finance (DeFi) liquidity.
The token’s availability roadmap will also expand into international derivatives markets. Coinbase plans to roll out RLUSD to Coinbase Global Exchange users in an upcoming phase, including enabling the token to serve as collateral.
Despite the broad integration, treatment of holding balances differs from other stablecoins. Unlike USDC holdings on Coinbase that routinely receive periodic yield rewards, the exchange has not established a similar rewards program for RLUSD deposits. Token holders maintain the asset purely for transactional utility, without passive balance accrual.
How RLUSD Reserves Are Managed
The reserve-backing framework centers on regulated financial institutions. BNY serves as the primary custodian overseeing RLUSD’s reserve collateral. The backing assets are held in US dollar cash deposits, short-term US Treasury bills, and cash equivalents.
The Coinbase launch broadens RLUSD’s reach following Ripple’s earlier partnership with Robinhood to reach its 28.6 million users. This step complements the expanded custody partnership with BNY announced during the Ripple Swell conference week in New York.
For Coinbase account holders, RLUSD’s arrival provides a new option to move funds across three distinct networks at dollar parity. However, without interest rewards like those available on USDC, the primary user consideration remains practical utility: capitalizing on the speed of multi-network liquidity transfers, or keeping balances in yield-bearing assets.
Reported via crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
