Coinbase Adds Ripple's RLUSD Stablecoin to Prime, Exchange and Its Retail App

Coinbase customers can now deposit and withdraw RLUSD on the XRP Ledger, Base and Ethereum and convert US dollars into it 1:1; access for Coinbase Global Exchange customers, including use as collateral, will follow later.

Coinbase Adds Ripple's RLUSD Stablecoin to Prime, Exchange and Its Retail App — editorial cover artwork
Coinbase Adds Ripple's RLUSD Stablecoin to Prime, Exchange and Its Retail App — editorial cover artwork

By Elena Marsh, Journalist, Stablecoins

Coinbase has added Ripple USD (RLUSD), Ripple's dollar stablecoin, to Coinbase Prime, Coinbase Exchange and the Coinbase retail app, the two companies announced on 28 October 2026. Starting that day, retail and institutional clients can trade and manage RLUSD on those platforms and convert US dollars and other supported USD-denominated stablecoins into RLUSD at 1:1.

Coinbase supports RLUSD deposits and withdrawals on three networks: the XRP Ledger, Base and Ethereum. On Base, Ripple says it will provide liquidity to support RLUSD's growth.

One part is not yet live. According to the release, availability for Coinbase Global Exchange customers, including the use of RLUSD as collateral, "will follow". No date was given.

What changes for RLUSD holders

The listing gives RLUSD three distinct routes into Coinbase at once:

Platform — Status in the release

Coinbase Prime — Live from 28 October

Coinbase Exchange — Live from 28 October

Coinbase retail app — Live from 28 October

Coinbase Global Exchange, including RLUSD as collateral — To follow; no date

The 1:1 conversion from dollars and other supported dollar stablecoins matters as much as the listing itself. It means a Coinbase customer can move into RLUSD without trading it on an order book, which lowers the friction for treasury and payments users who need a specific stablecoin rather than exposure to its price. The release does not list which regions are eligible or which other stablecoins can be converted.

Distribution after a crowded Swell week

The Coinbase deal lands during Ripple's Swell 2026 conference in New York and follows a run of RLUSD announcements. On 26 October, Ripple said the Office of the Comptroller of the Currency had granted final approval for Ripple National Trust Bank, which is to manage RLUSD's reserves once it opens. On 27 October, Ripple and Robinhood said RLUSD was live on Robinhood Chain and Bitstamp by Robinhood, with the Robinhood app to follow later this year.

Reuters, citing CoinGecko data, put RLUSD's market capitalisation at more than $2.5 billion on 28 October. That is small next to the largest dollar stablecoins, which is why distribution through large venues is the commercially important part of this week's news.

Coinbase has historically been most closely associated with Circle's USDC. Reuters noted that Coinbase has gradually added other dollar tokens, including PayPal's PYUSD and Open USD. Adding RLUSD across retail, institutional and exchange products, rather than as a single trading pair, puts it alongside those tokens inside Coinbase's own conversion and custody flows.

"It's a really credentializing moment for RLUSD to not only be listed on Coinbase but to be embraced across the platform," Jack McDonald, Ripple's senior vice president of stablecoins, told Reuters.

What to watch

The open items are the Global Exchange rollout and collateral use, the list of supported regions, and whether Coinbase promotes RLUSD in its payments and merchant products in the way it does USDC. The release does not describe any revenue-sharing or rewards arrangement for RLUSD on Coinbase, so none should be assumed.

Sources

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