RLUSD Goes Full Stack: Robinhood Adds XRP Ledger Settlement and Ripple Treasury

Robinhood is expanding its partnership with Ripple to bring the RLUSD stablecoin into its retail and institutional operations, with RLUSD going live on Tuesday on Robinhood Chain and Bitstamp by Robinhood before arriving in the main Robinhood app later this year. Ripple announced the expansion Tuesday at its Swell 2026 conference in New York. Robinhood will also use RLUSD on the XRP Ledger for institutional settlement through Bitstamp and adopt Ripple Treasury to manage its global cash and liquidity operations.

The treasury integration covers automated cash-flow forecasting, liquidity management, payment processing, risk controls and intercompany netting. It aligns with Ripple’s recently launched 24/7 treasury platform, which combines AI capabilities with corporate cash management. Robinhood’s existing relationship with Ripple Prime will also expand as the prime broker continues providing financing to Bitstamp and plans to introduce perpetual futures trading on the exchange later this year. Ripple Prime clients already have access to spot trading on Bitstamp.

RLUSD launched in December 2024 as a stablecoin designed to always be worth 1 U.S. dollar. DeFiLlama data put its market capitalization at $2.57 billion, with nearly $1 billion issued on the XRP Ledger, while Ripple said the total value of tokens in circulation tops $2.5 billion. Robinhood reported 28.6 million funded customers globally as of August.

Ripple separately expanded its partnership with BNY, whose Digital Asset Custody platform now supports XRP and RLUSD. The companies plan to let BNY clients mint and redeem RLUSD directly through the bank and broaden support for tokenized assets issued on the XRP Ledger. Ripple also partnered with C2FO to bring financing and settlement for its Instant Pay service onto the XRP Ledger using RLUSD. The service is designed to let suppliers receive payments against approved invoices in seconds rather than waiting days for traditional bank settlement. It is currently in testing, with a controlled launch and the first RLUSD transactions on the XRP Ledger expected by the end of the year.

The announcements followed Ripple’s receipt of final approval from the US Office of the Comptroller of the Currency on Monday to establish a national trust bank. The institution will manage reserves backing RLUSD and provide digital asset custody services, while stablecoin issuance will remain with Ripple’s New York-regulated subsidiary. “Utility is what moves stablecoins forward. Working with Ripple, Bitstamp and Robinhood will have access to RLUSD for institutional settlement, Ripple Treasury for our operations, and Ripple Prime for financing,” said Johann Kerbrat, senior vice president and general manager of Robinhood Crypto and International. “That is what a connected, global financial system looks like.”

Ripple paid $1.25 billion for Ripple Prime in a deal announced in April 2025, when it was still called Hidden Road. The prime broker provides lending and margin financing across roughly 20 digital assets. Robinhood closed its purchase of Bitstamp in June 2025 for about $200 million, with most of the exchange’s volume coming from institutions. The trading app had added XRP for U.S. customers in November 2024 after paring back crypto listings during the SEC crackdown on Ripple and other crypto companies. Robinhood cut about 10% of its staff in June after revenue fell 34% in its crypto transaction business in the first quarter to $134 million. Market snapshots showed HOOD gaining 1.85% and more than 3% to trade at $96 after the announcement, while analysts raised price targets and revenue forecasts ahead of its third-quarter results. Robinhood will report after the market closes on Tuesday, its first full-quarter report since the July 1 launch of Robinhood Chain.