defi ·
Robinhood Taps Ripple's Stablecoin, Treasury Software and Trading Loans
Ripple's RLUSD stablecoin is live on Robinhood Chain and Bitstamp, and heads to the Robinhood app later this year as the companies deepen ties in treasury and institutional trading.
Robinhood, the trading app with 28.6 million funded customers, is adding a digital dollar built by Ripple, the company whose founders created the XRP cryptocurrency. Ripple's RLUSD token went live Tuesday on Robinhood's own blockchain and on its Bitstamp exchange, and is expected to reach the main Robinhood app later this year, according to Ripple's announcement.
RLUSD is a stablecoin, a crypto token designed to always be worth one U.S. dollar, which lets money move across a blockchain without waiting for banks to open. It launched in December 2024, and Ripple said its market capitalization, meaning the combined value of every token in circulation, now tops $2.5 billion.
Robinhood will also run its global treasury operations on Ripple Treasury, software that manages a company's cash, from payments to cash-flow forecasts and risk. That includes intercompany netting, which offsets what a company's own divisions owe one another so fewer payments have to move. Ripple Prime, a prime broker that lends money and clears trades for hedge funds and other large institutions, already provides Bitstamp with lending and margin financing, meaning borrowed money for trading, across roughly 20 digital assets.
Earlier coverage
Reported by Decrypt.
