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Coinbase adds Ripple’s RLUSD stablecoin to three platforms

Coinbase has added Ripple’s RLUSD to its retail app, Exchange and Prime, with one-for-one dollar conversions and transfers on three networks; Global Exchange access will follow.

The Onchain Brief Editors2 min read
Coinbase adds Ripple’s RLUSD stablecoin to three platforms

Coinbase added Ripple’s RLUSD stablecoin to Coinbase Exchange, its retail app and Coinbase Prime on Oct. 28, giving customers in supported regions another way to trade a digital token designed to track the U.S. dollar. The Block reported the listing after the companies announced it.

Coinbase says customers can convert U.S. dollars into RLUSD at a one-to-one rate. Ripple’s announcement also says customers can convert other supported dollar stablecoins into RLUSD at that rate. A stablecoin is a crypto token designed to hold a steady value against a currency.

Where can customers use RLUSD on Coinbase?

At launch, customers can trade and manage RLUSD through Coinbase Exchange, Coinbase Prime and the Coinbase retail app. They can deposit and withdraw it over three networks: the XRP Ledger, Ethereum and Base. These are separate blockchains, so customers need to use a network supported by the service they are sending to.

Coinbase and Ripple did not name specific trading pairs or fees in their announcements. Coinbase says availability is limited to supported regions, but did not list those regions in its post.

What is still to come for Coinbase customers?

Coinbase Global Exchange customers do not yet have access, according to the companies. Support for that platform will follow, including the option to use RLUSD as collateral. The companies did not give a date for that rollout.

Ripple also said it will provide liquidity for RLUSD on Base. Liquidity helps make it easier to trade or exchange a token, but the announcement did not state how much Ripple will provide.

What backs Ripple’s dollar token?

Ripple says RLUSD is redeemable for U.S. dollars and backed by reserves that include dollar deposits, short-term U.S. Treasury securities and other cash equivalents. The token launched in December 2024, according to The Block, which reported that Ripple said its market value had passed $2.6 billion.

The Coinbase launch gives RLUSD access to the exchange’s retail and institutional platforms and lets users move the token across three networks. The next step for Coinbase customers is the planned Global Exchange rollout; its timing remains unknown.

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