Ripple, Robinhood expand partnership to bring RLUSD to retail and institutional markets
Ripple and Robinhood expanded their partnership to bring RLUSD to Robinhood’s retail and institutional businesses, with an app launch planned later this year and XRP Ledger use for institutional settlement. Robinhood will also adopt Ripple Treasury for cash and liquidity management, while Ripple Prime’s services for Bitstamp by Robinhood may expand to perpetual futures. RLUSD has a reported $2.57 billion market cap. Separately, BNY will custody XRP and RLUSD and plans to support direct RLUSD minting and redemption for clients. Ripple and C2FO are testing invoice financing and settlement using RLUSD on the XRP Ledger, with initial transactions expected by year-end. The announcements followed US regulatory approval for Ripple to establish a national trust bank to manage RLUSD reserves and provide custody.
