Key facts
- RLUSD stablecoin to be integrated into Robinhood's retail and institutional offerings.
- Robinhood to use Ripple Treasury for global cash and liquidity management.
- BNY will support custody of XRP and RLUSD via its Digital Asset Custody platform.
- C2FO partnership aims to enable instant payments against approved invoices on the XRP Ledger.
- RLUSD has a market capitalization of $2.57 billion as of August.
Ripple and Robinhood have expanded their partnership to bring the RLUSD stablecoin to Robinhood’s retail and institutional businesses, alongside new integrations spanning treasury management, lending and trading services. RLUSD is already available on Robinhood Chain and Bitstamp by Robinhood, with a launch in the Robinhood app planned for later this year. Robinhood also plans to use the stablecoin on the XRP Ledger for institutional settlement. Robinhood will also adopt Ripple Treasury to manage its global cash and liquidity operations. Separately, Ripple partnered with working-capital platform C2FO to bring financing and settlement for its new Instant Pay service onto the XRP Ledger, using RLUSD. The service is designed to let suppliers receive payments against approved invoices in seconds rather than waiting days for traditional bank settlement. Ripple also announced an expanded partnership with BNY, which now supports custody of XRP and RLUSD through its Digital Asset Custody platform.