Ripple has partnered with Robinhood to broaden the utility of its dollar-pegged stablecoin, RLUSD, creating deeper trading and financing links between their institutional divisions while streamlining Robinhood’s internal treasury management.
The agreement designates RLUSD as a settlement asset for institutional trades and a tool to automate Robinhood’s treasury operations. It also expands access to digital asset trading and financing through Ripple Prime and Bitstamp, the global cryptocurrency exchange Robinhood acquired in 2024.
The collaboration advances Robinhood’s strategy to evolve into a global financial super-app, unifying retail and institutional services under a single infrastructure framework.
“Utility is what moves stablecoins forward,” said Johann Kerbrat, General Manager of Robinhood Crypto, in a statement provided to CNBC. “Working with Ripple, Bitstamp, and Robinhood will have access to RLUSD for institutional settlement, Ripple Treasury for our operations, and Ripple Prime for financing. That is what a connected, global financial system looks like.”
Infrastructure Evolution
Stablecoins have long served as the workhorses of the crypto ecosystem, allowing traders to move capital between exchanges, execute trades, and park funds without converting to fiat currency. As the industry matures toward continuous, 24/7 liquidity, these tokens are becoming essential financial infrastructure due to their ability to settle dollar-denominated value instantly, independent of traditional banking hours.
As firms seek to leverage stablecoins beyond simple exchange listings, issuers are competing to offer comprehensive platforms that bundle the technology and services required to move money, settle trades, and manage cash.
“Stablecoins have evolved from a crypto trading tool into a critical piece of financial infrastructure,” Ripple President Monica Long told CNBC. “The clearest evidence of this is where they are now being embedded — from corporate payments to capital markets. Our partnership with Robinhood reflects that evolution.”
“This is about much more than trading,” Long added. “It is about fundamentally changing how money moves and is managed — giving institutions the ability to operate 24/7/365, unlocking liquidity, and putting capital to work more efficiently.”
Rival issuer Circle Internet Group is pursuing a similar trajectory, building infrastructure to deploy its USDC stablecoin beyond issuance. Earlier this year, Circle launched the Circle Payments Network, connecting financial institutions and payment providers for cross-border transactions using USDC and other digital assets.
That network directly competes with Ripple Payments, an eight-year-old service facilitating cross-border business payments using assets including USDC, XRP, and, since its December 2024 launch, RLUSD.
RLUSD’s market capitalization has surpassed $2.5 billion, though Tether’s USDT and Circle’s USDC continue to dominate the broader stablecoin market, which now exceeds $300 billion in total value.
RLUSD will also be listed on Robinhood’s retail trading platform and is currently available on Bitstamp and Robinhood Chain, the company’s proprietary blockchain for tokenized assets.
Shares of Robinhood rose approximately 2.5% in early trading Tuesday, reversing a three-day decline, ahead of the company’s third-quarter earnings report.
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