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Coinbase Adds Ripple’s Stablecoin to Its Exchange
The listing expands Coinbase’s dollar-backed token lineup and gives institutions access through Prime, Exchange and the retail app.
- On Wednesday, Moody's assigned an A2 long-term and Prime-1 short-term rating to Ripple's RLUSD stablecoin, while cryptocurrency exchange Coinbase simultaneously added the dollar-backed token to its retail and institutional platforms.
- Moody's applied its new stablecoin framework to RLUSD, citing reserve coverage at approximately 103% of outstanding tokens while evaluating reserve asset quality, liquidity, and regulatory oversight to determine the credit ratings.
- With more than $2.5 billion in market capitalization, RLUSD has gained institutional traction since December 2024. Ripple senior vice president of stablecoins Jack McDonald called the listing "a really credentializing moment."
- The partnership expands RLUSD access alongside Ripple's recent collaborations with BNY, Robinhood, and Cross River Bank, supporting institutional treasury management, payments, and collateral applications across multiple blockchains.
- Ripple recently secured federal trust-bank approval from the Office of the Comptroller of the Currency to manage segregated reserves, positioning the company to compete for institutional treasury operations.
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Moody’s Ratings assigned Ripple USD (RLUSD) a long-term A2 deposit rating and a short-term P-1 rating under its stablecoins methodology. The evaluation covers the RLUSD issued by Standard Custody & Trust Company. The A2 rating places RLUSD within the investment grade, while P-1 is the maximum investment rating for RLUSD. The RLUSD rating is ... Read more
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