Cryptoupdated 57m ago2 min read
Ripple And Robinhood Expand RLUSD Partnership Into Payments, Treasury, And Perpetual Futures
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Ripple and Robinhood expand RLUSD to payments, treasury management, lending and perpetual futures. BNY Mellon now custody XRP and RLUSD; clients can mint/redeem RLUSD via BNY.
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RLUSD goes mainstream
Ripple and Robinhood expanded their cooperation around Ripple USD (RLUSD) to include payments, treasury management, and lending and trading services, with Ripple saying it would strengthen institutional financial services through Ripple Treasury, Ripple Prime, and the launch of perpetual futures trading. Robinhood planned to use RLUSD to settle institutional trades and automate treasury operations, and the partnership also covered Bitstamp by Robinhood as an exchange venue for RLUSD-based settlement. Ripple said it would work with BNY and C2FO on XRP and RLUSD custody and business-to-business payments services, while the first transaction for the C2FO effort was planned for later this year.
RLUSD was already available on Robinhood Chain and Bitstamp, and RLUSD was expected to become available through the Robinhood app before the end of 2026. Monica Long, Ripple president, framed the partnership as integrated demand, saying, “From bringing RLUSD to retail and institutional markets to helping Robinhood manage its own treasury operations, this partnership reflects growing institutional demand for integrated solutions that support customer-facing offerings and core financial operations,”.
BNY custody and minting
BNY expanded its Digital Asset Custody platform to support XRP and RLUSD, extending its existing role as RLUSD’s primary reserve custodian and its custody ties to Ripple Prime. Ripple and BNY said they planned to let BNY clients mint and redeem RLUSD directly through the bank, and the arrangement was described as a way to connect institutions to RLUSD through a traditional financial services provider. BNY planned to enable clients to mint and redeem RLUSD directly through the bank, and the companies were also exploring tokenized trade finance on the XRP Ledger starting with a supply chain finance initiative alongside C2FO.
RLUSD had grown to about $2.5 billion in market capitalization, while the XRP Ledger had processed more than 4.6 billion transactions since launch. Carolyn Weinberg, BNY Chief Innovation and Market Transformation Officer, said, “In collaboration with Ripple, we are working to shape a more continuous, efficient and resilient financial system, paving the way for broader institutional adoption,”.
Trade finance on XRPL
Ripple and C2FO explored tokenized trade finance on the XRP Ledger, with the proposed model using RLUSD to support parts of settlement tied to approved invoices. A C2FO spokesperson said the service was currently in testing, with a controlled launch and the first RLUSD transactions on the XRP Ledger expected by the end of the year. C2FO’s Instant Pay was designed to let suppliers receive payments against approved invoices within seconds rather than waiting days for traditional bank settlement, while keeping invoice due dates unchanged.
The initiative aimed to broaden investor access to approved receivables, with RLUSD used for settlement on XRPL and participating capital providers funding early payments against those invoices. Ripple President Monica Long said financial institutions were increasingly looking beyond the issuance of tokens and focusing on how tokenized assets can be used in practical financial activities, particularly payments and collateral, and the statement said, “particularly payments and collateral.”