Coinbase Adds Ripple's RLUSD

It's Benzinga, bringing Wall Street to Main Street. Coinbase is adding Ripple's dollar-backed stablecoin RLUSD to its retail and institutional platform starting Wednesday, expanding its cryptocurrency offerings, according to Reuters. Ripple launched RLUSD in December 2024 to facilitate near-instant settlement of cross-border payments. The stablecoin has a market capitalization exceeding $2.5 billion, according according to CoinGecko. Coinbase previously focused on Circle's USDC, but has expanded its offerings to include PayPal's PYUSD and OpenUSD, a stablecoin issued through a joint venture backed by Visa, MasterCard, and Coinbase. Ripple's senior vice president of stablecoins, Jack McDonald, called the Coinbase listing a really credentializing moment for RLUSD. Stablecoins are primarily used for cryptocurrency trading but can also facilitate instant payments and corporate treasury management. For all things money, visit Benzinga.com.