Robinhood to offer Ripple's RLUSD stablecoin in its app despite backing rival USDG
Robinhood and Ripple announced a partnership that will bring the $2.5 billion RLUSD stablecoin to Robinhood's retail app by the end of 2026, even though Robinhood helped found the network behind competitor USDG.
CryptoSource: CoinDesk
Ripple's dollar-backed stablecoin RLUSD is expected to become available to Robinhood's retail customers before the end of 2026. The two companies announced the partnership on Tuesday. Robinhood reported 28.6 million funded customer accounts at the end of August, though the firms have not said how many users will be able to access the token.
RLUSD can already be used on Robinhood Chain and on Bitstamp, the crypto exchange Robinhood bought for $200 million in June. Monica Long, president of Ripple, said the deal reflects growing institutional demand for integrated solutions that support customer-facing products and core financial operations. RLUSD launched in December 2024 and, according to the press release, now has a market capitalization above $2.5 billion.
The move places Robinhood in an unusual position. In 2024 it helped create the Global Dollar Network, which promotes USDG, a stablecoin issued by Paxos. Network members help distribute the token and share in the revenue it generates. Kraken, Galaxy Digital, Anchorage Digital and Bullish, the parent company of CoinDesk, were also founding members, and Arbitrum joined earlier this month. In July the group said USDG would be the default lending asset for Robinhood Earn, the company's onchain lending product.
Robinhood did not announce changes to its USDG arrangement. It is unclear whether RLUSD will sit alongside USDG in the same products, or how the two stablecoins will be presented to customers. Robinhood did not immediately respond to a request for comment on the matter.
The agreement also covers institutional services. Bitstamp will use RLUSD on the XRP Ledger for settlement, and Robinhood plans to adopt Ripple's treasury software for cash management, payments and forecasting. Ripple Prime already supplies Bitstamp with lending and margin financing across about 20 digital assets, and the companies intend to add perpetual futures trading later this year.
Separately on Tuesday, Ripple announced an expanded partnership with BNY to broaden institutional digital asset custody infrastructure and explore further uses of blockchain, including tokenized trade. The two firms first worked together in July 2025. The announcement came a day after Ripple received final approval from the Office of the Comptroller of the Currency for Ripple National Trust Bank.
Based on reporting by CoinDesk.