Ripple (CRYPTO: $XRP) has joined forces with Robinhood (NASDAQ: $HOOD) to enhance the utilization of its RLUSD (CRYPTO: $RLUSD) stablecoin.
According to the agreement, RLUSD will be utilized for settling institutional transactions, and Ripple Treasury will assist in managing Robinhood’s internal cash flow. Additionally, this collaboration will link Robinhood’s institutional sector with financing options via Ripple Prime, along with trading access through Bitstamp, the crypto exchange acquired by Robinhood in 2025.
The RLUSD will also be available on Robinhood’s trading platform, providing its users with an additional dollar-pegged digital asset for their trading needs, as stated in a Tuesday announcement.
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“The utility drives the progress of stablecoins. Partnering with Ripple and Bitstamp will enable Robinhood to utilize RLUSD for institutional settlements, employ Ripple Treasury for our operations, and access Ripple Prime for financing,” stated Johann Kerbrat, the general manager of Robinhood Crypto.
This partnership emerges amidst a competitive landscape as stablecoin issuers aim to diversify their offerings beyond just crypto trading. These stablecoins, generally linked to fiat currencies like the US dollar, facilitate seamless fund transfers and transaction settlements around the clock, independent of traditional banking hours.
Ripple is contending with Circle (NYSE: $CRCL), the issuer of USDC (CYRPTO: $USDC), which is also developing a payments ecosystem surrounding its stablecoin. Circle recently launched the Circle Payments Network aimed at linking financial entities and payment processors for international transactions.
For approximately eight years, Ripple has been facilitating international money transfers through its Ripple Payments services, supporting various assets such as XRP, USDC, and RLUSD, which debuted in December 2024.
Currently, RLUSD’s market valuation has surged past $2.5 billion, although it lags behind Tether’s USDT and Circle’s USDC. Overall, the stablecoin sector has exceeded $300 billion, highlighting the increasing significance of dollar-pegged assets within the digital finance ecosystem.
Recently, Robinhood Ventures Fund I invested $30 million in Erebor Bank, a newly formed US bank aimed at supporting companies specializing in artificial intelligence, defense, robotics, and other tech fields.
Robinhood shares are currently valued at $95.19, marking a 2.5% increase today.