Ripple is expanding RLUSD access through Coinbase while broadening its institutional custody partnership with BNY to support XRP.
Ripple is expanding access to its US dollar-backed stablecoin, RLUSD, through Coinbase while broadening its digital asset custody collaboration with financial services company BNY. The two developments aim to increase RLUSD’s availability across trading platforms and institutional infrastructure, while exploring further blockchain applications in trade finance.
Ripple’s partnership with Coinbase will allow retail and institutional clients to trade and manage RLUSD via Coinbase Prime, Coinbase Exchange, and the Coinbase Retail app. Access for Coinbase Global Exchange customers will follow, and Ripple will also provide liquidity on the Base network.
Jack McDonald, Senior Vice-President of Stablecoins at Ripple, said: “Institutional appetite for compliant, high-quality stablecoins is clear. The challenge is making them readily available through the platforms institutions already trust and use.”
Brett Tejpaul, Co-CEO of Coinbase Institutional, said: “Adding RLUSD on Coinbase is another step toward the everything exchange — one venue where clients choose the assets that fit their strategy, on infrastructure built for security and compliance.”
Separately, Ripple and BNY announced an expansion to strengthen institutional digital asset custody and explore additional blockchain use cases such as tokenised trade. BNY already serves as the primary reserve custodian for RLUSD, and now supports XRP and RLUSD on its Digital Asset Custody platform.
Carolyn Weinberg, Chief Innovation and Market Transformation Officer at BNY, said: “In collaboration with Ripple, we are working to shape a more continuous, efficient and resilient financial system, paving the way for broader institutional adoption.”
BNY intends to expand its support for tokenised assets and investment products issued on XRPL. As an initial step, the companies are exploring a supply chain finance initiative with C2FO, a global working capital platform. The initiative remains at the exploration stage, with no completed launch or implementation announced.
Brad Garlinghouse, CEO of Ripple, added: “Settlement is moving to real-time, 24/7, and tokenised assets can be traded, financed and used as collateral. Ripple is at the epicentre of this massive transformation to rewire the world’s financial system, solving the inefficiencies that have slowed money movement for decades with digital assets like XRP.”
These developments come shortly after Ripple announced new capabilities for Ripple Treasury by combining treasury management tools with artificial intelligence (AI) and digital payment infrastructure.
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