“Ripple USD (RLUSD) will be a key stablecoin within Robinhood’s crypto ecosystem”
Ripple and Robinhood formalize a strategic partnership and Ripple's stablecoin (RLUSD) becomes key to the American broker's crypto ecosystem, for individuals and institutions alike. But the agreement between the two…
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https://cryptoast.fr/ripple-robinhood-partenariat-stablecoin-rlusd/
Ripple USD (RLUSD) is accessible today on Robinhood Chain, the Robinhood blockchain as well as on Bitstamp, the exchange acquired by the group which serves its institutional clients. Robinhood app users will have access to the stablecoin by the end of the year.
Robinhood will also use RLUSD on the XRP Ledger (XRPL), the blockchain developed by Ripple, to settle transactions for Bitstamp institutional clients.
Launched in December 2024, this dollar-backed stablecoin today has a capitalization of $2.6 billion. Robinhood, for its part, claims more than 28 million customers, which opens up a large base of potential users to RLUSD.
“It’s utility that drives stablecoins,” summarizes Johann Kerbrat, managing director of Robinhood Crypto and International.
To buy XRP or other cryptos linked to the Ripple ecosystem, you can go through an exchange platform like Kraken.
Robinhood will use Ripple Treasury, Ripple's cash management software, to manage its own finances. The tool will automate the management of its liquidity, the forecasting of its money flows, its payments and the compensation of sums owed by its various subsidiaries.
The deal finally strengthens an existing collaboration with Ripple Prime, Ripple's institutional brokerage division. It already lends Bitstamp enough to offer margin trading (buying with borrowed money for amounts greater than its capital) on around twenty cryptos. In return, its customers can buy and sell spot assets on Bitstamp. By the end of the year, Ripple Prime will also support perpetual contracts, derivatives without an expiry date that allow you to bet on whether a price will rise or fall.
For Monica Long, president of Ripple, this partnership “reflects the growing institutional demand for integrated solutions” that serve both customer offerings and the internal financial functioning of companies.
👉 On the same subject – Ripple will become its own bank in the United States thanks to the green light from the OCC
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