Ripple Taps RLUSD for Robinhood Settlement — SkimNews
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- Ripple and Robinhood agreed to use RLUSD to settle institutional trades, automate Robinhood's treasury operations and expand access to digital-asset trading and financing through Ripple Prime and Bitstamp.
- Robinhood will list RLUSD on its trading platform; the stablecoin is currently available on Bitstamp and Robinhood Chain, the company's blockchain for tokenized stocks and other assets.
- Ripple says the partnership reflects stablecoins' evolution from crypto-trading tools into infrastructure for corporate payments and capital markets, giving institutions 24/7/365 operating capacity and more efficient capital use.
- RLUSD has grown to a market cap of more than $2.5 billion, but USDT and USDC still dominate a stablecoin market now exceeding $300 billion.
- Ripple Payments, an eight-year-old business, supports cross-border transfers using several assets, including USDC, XRP and RLUSD, with RLUSD joining the service in December 2024.
- Circle launched Circle Payments Network earlier this year, connecting financial institutions and payment providers for cross-border payments using USDC and other digital assets as the rival issuer pursues a similar one-stop-shop model.
Why it matters: Robinhood gains a stablecoin with a market cap above $2.5 billion for institutional settlement and automated treasury operations, while Ripple gains distribution and financing channels through Bitstamp and Ripple Prime. The material change is that RLUSD becomes embedded in transaction workflows rather than merely available for trading.
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