The companies announced on Tuesday that RLUSD was already available on Robinhood Chain and Bitstamp, the cryptocurrency exchange owned by Robinhood. They also outlined plans to use the token for institutional settlement through the XRP Ledger, alongside arrangements covering treasury management, financing and trading services.
Ripple said RLUSD had exceeded $2.4 billion in market capitalisation since its December 2024 launch. Market data cited around the announcement placed its value near $2.5 billion. The figure represents the value of tokens outstanding rather than investment committed by Robinhood or revenue generated through the partnership.
The agreement brings another dollar-denominated digital asset to Robinhood’s ecosystem, although the brokerage was among the participants supporting the Global Dollar Network, an initiative associated with USDG, a stablecoin issued by Paxos. The new arrangement does not indicate that Robinhood is withdrawing support from USDG or replacing it with Ripple’s product.
Robinhood has not announced a precise date for the retail launch, disclosed expected customer uptake or specified whether RLUSD will initially be available across all jurisdictions served by its app. The distinction matters because the token’s availability on institutional platforms does not mean every individual customer can already buy or transfer it.
The expanded relationship also gives Ripple a distribution channel linked to Robinhood’s 28.6 million funded customers globally. That customer figure describes the brokerage’s overall reach and should not be interpreted as the number of people expected to use RLUSD.
For institutional transactions, Robinhood intends to deploy RLUSD on the XRP Ledger through Bitstamp’s business serving professional market participants. Stablecoins are designed to maintain a fixed value against an underlying currency, enabling digital transfers and settlement without requiring users to hold more volatile cryptocurrencies for the same purpose.
The companies have not disclosed projected settlement volumes, transaction fees or financial commitments under the arrangement. They have likewise not detailed how institutional clients will divide activity between RLUSD and other dollar-backed tokens available across their trading infrastructure.
Robinhood will separately integrate Ripple Treasury into its financial operations. The software covers cash and liquidity management, payment processing, cash-flow forecasting, risk management and intercompany netting, which can reduce the number of transfers required between entities within a corporate group.
This element extends the commercial relationship beyond cryptocurrency listings and trading. It involves Robinhood’s internal management of funds rather than simply providing customers with another asset to trade. Neither company disclosed an implementation timetable for the treasury integration or quantified expected operational savings.
Monica Long, Ripple’s president, said the partnership reflected demand for integrated financial services covering both customer-facing products and core operations. Her comments accompanied the announcement of the expanded agreement, which brings several existing and planned services under the same commercial relationship.
Johann Kerbrat, senior vice-president and general manager of Robinhood Crypto and International, identified institutional settlement, treasury operations and financing as the principal applications. The companies presented these activities as connected services, although their commercial terms were not made public.
The arrangement also encompasses Ripple Prime, its institutional brokerage business. Ripple said the operation already provides Bitstamp with lending and margin financing across approximately 20 digital assets. Clients of Ripple Prime can access spot trading on Bitstamp, allowing transactions at prevailing market prices.
Ripple Prime is expected to support perpetual futures trading on Bitstamp later this year. Such contracts allow traders to maintain leveraged exposure without a predetermined expiry date, subject to the exchange’s applicable requirements and product availability. The companies did not specify which assets would be included when the additional service launches.
Ripple launched RLUSD in December 2024 as a dollar-pegged stablecoin. Its expansion through Robinhood comes as financial platforms explore multiple issuers rather than relying exclusively on a single dollar token. USDG and RLUSD remain distinct products, with separate issuers and arrangements governing their backing and redemption.
Robinhood acquired Bitstamp in 2025, providing an established exchange platform for institutional cryptocurrency services. The Ripple agreement makes use of that infrastructure while adding planned access through Robinhood’s consumer app. The companies have not published a timetable for individual markets or detailed customer eligibility conditions. Any rollout will also depend on the brokerage’s product arrangements and applicable regulatory requirements in the markets where customers are located.
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