Coinbase Launches Ripple USD (RLUSD) for Eligible Users

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by Tenzin Dorje

an hour ago

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In a significant development for the cryptocurrency market, Coinbase has announced the launch of Ripple USD (RLUSD) on its platforms, including Coinbase Prime, Coinbase Exchange, and the consumer application. Based on the data provided in the document, this move is set to enhance the usability of the dollar-pegged token for eligible users.

Major Expansion for RLUSD

As of October 28, users can now deposit and withdraw RLUSD on the XRP Ledger, Base, and Ethereum, marking a major expansion for the stablecoin. This integration is designed to streamline essential functions for stablecoin users, combining custody and execution services in one platform.

Boosting Liquidity on Base

Ripple's initiative to provide liquidity on Base is expected to significantly boost stablecoin liquidity, offering users a more efficient method to settle their positions without relying on traditional banking systems. This development underscores the growing importance of stablecoins in the cryptocurrency ecosystem and their potential to facilitate smoother transactions.

Standard Chartered recently launched institutional custody services for Ripple USD, enhancing security and efficiency for trading firms in the stablecoin market. This development contrasts with Coinbase's recent introduction of Ripple USD on its platforms. For more details, see further information.

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