Ripple’s RLUSD stablecoin gains Coinbase access as Moody’s awards investment-grade rating
Coinbase has added Ripple’s RLUSD stablecoin to its retail and institutional platforms and enabled support on Base, alongside the XRP Ledger and Ethereum. Users can convert dollars and supported stablecoins into RLUSD at a 1:1 rate; Ripple will provide Base liquidity, and the companies plan to allow institutional traders to use RLUSD as collateral. The expansion follows RLUSD’s launch in December 2024 and growth to more than $2.4 billion in market capitalization. Moody’s assigned RLUSD A2 long-term and P-1 short-term ratings, citing reserves composed mainly of cash and short-term US government securities, redemption arrangements, custody, oversight and operational controls. The issuer targets 103% reserve coverage, with most assets held by BNY.
