Ripple (L) and Robinhood (R) Getty Images Ripple has reached an agreement with Robinhood to expand the reach of its digital dollar, RLUSD, strengthening commercial and financial links between its institutional businesses and improving Robinhood’s internal money management. The partnership involves using RLUSD to settle institutional transactions, automate Robinhood’s treasury operations, and expand access to digital asset trading and financing through Ripple Prime and Bitstamp, the global crypto exchange acquired by Robinhood last year. ambition to become a global financial super application, centralizing the financial lives of its customers while expanding the underlying infrastructure that can serve both retail and institutional clients. “Utility is what drives stablecoins forward. Working with Ripple, Bitstamp and Robinhood you will have access to RLUSD for institutional settlement, Ripple Treasury for our trading, and Ripple Prime for funding,” Robinhood Crypto CEO Johann Kerbrat said in a statement shared with CNBC. “This is what a connected global financial system looks like.” Workhorse Stablecoins have long been a workhorse of the cryptocurrency world, giving traders a way to move money between exchanges, buy and sell crypto assets, and park funds between trades without having to convert them back to traditional currency. But as the cryptocurrency industry evolves beyond trading and markets move toward 24/7 liquidity, stablecoins are becoming essential financial infrastructure due to their ability to enable near-instant settlement and move dollar-denominated value at any time, regardless of traditional banking hours. As companies look to do more with stablecoins beyond simply listing them on exchanges, stablecoin issuers are betting they will favor a one-stop-shop approach that bundles the technology and services needed to move money, settle transactions and manage cash. “Stablecoins have evolved from a cryptocurrency trading tool to a critical piece of financial infrastructure,” Ripple president Monica Long told CNBC. “The clearest evidence of this is where they are integrating now: from corporate payments to capital markets. Our partnership with Robinhood reflects that evolution.” “It’s about much more than trade,” he added. “This is about fundamentally changing the way money moves and is managed, giving institutions the ability to operate 24/7/365, freeing up liquidity and putting capital to work more efficiently.” Circle Internet Group, a Ripple competitor, is positioning itself for a similar future, where winning platforms, in addition to issuing stablecoins, also provide the infrastructure to put them to work. Earlier this year, for example, it launched Circle Payments Network, which connects financial institutions and payment providers using its flagship USDC stablecoin and other digital assets for cross-border payments. The network is Circle’s answer to the eight-year-old Ripple Payments business, a service that helps businesses move money across borders, using any of several assets that move through that system, including USDC, Ripple-created XRP, and since its debut in December 2024, RLUSD.RLUSD’s market capitalization has increased. has grown to more than $2.5 billion. Tether’s USDT and Circle’s USDC still dominate the total stablecoin market, which now exceeds $300 billion. RLUSD will also be listed on Robinhood’s trading platform and is currently available to traders on Bitstamp as well as Robinhood Chain, the company’s local blockchain for tokenized stocks and other assets. Robinhood reports third-quarter results for the three months ending in September after the market closes Tuesday.
