Ripple has partnered with Coinbase to list its U.S. dollar-backed stablecoin, RLUSD, on America’s largest cryptocurrency exchange.
The two companies announced the deal in a joint press release on Wednesday, Oct. 28, 2026. The partnership gives retail and institutional customers easier access to RLUSD and expands Ripple’s presence in the U.S. cryptocurrency market.
RLUSD Comes to Coinbase Trading Platforms
As a result of the collaboration, Coinbase has made RLUSD available to retail and institutional customers through Coinbase Prime, Coinbase Exchange, and the Coinbase Retail app.
@Ripple 🤝🏼 @coinbase$RLUSD is coming to the largest U.S. crypto exchange, expanding access for retail and institutional markets, with support across @XRP, @Ethereum and @Base. https://t.co/iyz9RvoU7a
— Ripple (@Ripple) October 28, 2026
Customers can convert U.S. dollars and other USD-denominated stablecoins into RLUSD at a 1:1 ratio, which makes it easier to access and use the stablecoin.
Ripple also plans to extend RLUSD to Coinbase Global Exchange customers soon. This will allow market participants to use the stablecoin as collateral.
In addition, Coinbase supports RLUSD deposits and withdrawals across three blockchain networks: the XRP Ledger (XRPL), Base, and Ethereum.
Ripple will also provide direct on-chain liquidity to support RLUSD adoption on Base, the blockchain network developed by Coinbase. Such a move could make it easier for users to trade and transfer RLUSD within the Base ecosystem as demand for the stablecoin grows.
Ripple and Coinbase Respond to Institutional Demand
Jack McDonald, Ripple’s Senior Vice President of Stablecoins, said the partnership addresses growing institutional demand for compliant digital dollars through established platforms.
He highlighted Coinbase’s ability to bring trading execution, settlement, and custody together in one place, giving institutional clients access to the services they need through a single platform.
Brett Tejpaul, Co-CEO of Coinbase Institutional, said the addition of RLUSD confirms Coinbase’s goal of building an all-in-one platform where customers can access assets that suit their individual strategies.
The two executives are scheduled to appear together at Ripple Swell in New York City on Oct. 28 to discuss the next stage of institutional stablecoin adoption.
RLUSD Market Cap Reaches $2.58 Billion
Ripple launched RLUSD in December 2024 as a regulated, U.S. dollar-backed stablecoin designed for enterprise use. In less than two years, it has grown to a market capitalization of approximately $2.58 billion, becoming one of the fastest-growing stablecoins in the market.
By late September 2026, RLUSD had reached a market cap of $2.49 billion, representing an 86% increase from its $1.34 billion value at the start of 2026. Ripple also confirmed in August 2026 that nearly $1 billion of the stablecoin’s total supply was on the XRP Ledger alone.
RLUSD maintains its 1:1 dollar backing through U.S. dollar deposits, short-term U.S. Treasury securities, and cash equivalents. These reserves support its use as a stable digital dollar for institutional customers.
In March 2026, Ripple also reported that its stablecoin infrastructure had processed more than $100 billion in payment volume.
Global Partnerships Expand RLUSD’s Reach
The Coinbase deal follows a year of expansion across international markets and institutional finance. Ripple has partnered with Mastercard, JPMorgan, Ondo Finance, and OKX to increase RLUSD adoption and expand its trading capabilities.
In Japan, SBI Group launched RLUSD in June 2026 after receiving regulatory approval, making the stablecoin available to retail and institutional customers. Ripple also expanded into Türkiye through partnerships with Bitexen, Bitlo, and BiLira.
Across Africa, Ripple has worked with Chipper Cash, VALR, and Yellow Card to expand RLUSD access. Ripple further strengthened its institutional plans with a $150 million investment in LMAX Group. The investment aims to promote RLUSD as a collateral and settlement asset across LMAX’s global institutional trading infrastructure.