The short version
- Ripple and Robinhood signed a deal on October 27 that puts the $2.6 billion RLUSD stablecoin on Robinhood Chain and Bitstamp now, and in the Robinhood app later this year.
- Robinhood also moves its own treasury onto Ripple software and gets lending and margin on about 20 assets from Ripple Prime, while its crypto revenue fell 55% to $120 million in Q3.
- The crew is watching for the Robinhood app launch date, XRP’s $1.25 floor and the Fed decision today at 18:00 UTC.
Ripple and Robinhood signed a deal on Tuesday, October 27, that puts Ripple’s RLUSD stablecoin inside Robinhood’s crypto business. RLUSD is already live on Robinhood Chain and on Bitstamp, the exchange Robinhood bought in 2025. The main Robinhood app, where most of its 28.6 million funded customers trade, gets it “later this year.”
It’s not only a listing. Robinhood will also run its own treasury on Ripple software and settle with institutions in RLUSD on the XRP Ledger. So why does a broker that already backs one stablecoin want a second?
Ripple announced it on X during its Swell conference in New York:
Ripple is officially going under the hood. 👀
We're expanding our partnership with @RobinhoodApp across $RLUSD, Ripple Prime and Ripple Treasury, bringing together stablecoins, prime brokerage and treasury management to support both customer-facing services and core financial
What Did Ripple and Robinhood Agree?
Three things, per Ripple’s announcement:
- RLUSD on Robinhood. Live now on Robinhood Chain and Bitstamp by Robinhood, with the Robinhood app to follow. Robinhood will also use RLUSD on the XRP Ledger to settle with institutional clients through Bitstamp.
- Ripple Treasury for Robinhood. Robinhood moves its own cash management, payments, forecasting and intercompany netting onto Ripple’s treasury software.
- Ripple Prime on Bitstamp. Ripple’s prime broker already lends to Bitstamp and offers margin on roughly 20 digital assets. Its clients now trade spot on Bitstamp, and perpetual futures follow later this year.
“Utility is what moves stablecoins forward,” said Johann Kerbrat, who runs Robinhood’s crypto and international business. Ripple and Robinhood gave no fees, volumes or dates beyond “later this year.”
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Why Does Robinhood Want a Second Stablecoin?
Because RLUSD brings banks with it. Robinhood is already a member of the Global Dollar Network behind USDG, the Paxos-issued stablecoin that dominates its own chain: the busiest pool on Robinhood Chain this month has been ETH against USDG.
RLUSD sells to a different crowd. It is issued by a New York trust company, and since Monday it has a federally chartered trust bank holding its reserves. That pitch works on treasurers and institutional desks, which is exactly the Bitstamp side of Robinhood’s business.
The token itself has grown fast. RLUSD supply stands at $2.60 billion on DefiLlama, up from $908 million a year ago and $1.57 billion at the end of July. That makes it the ninth-biggest stablecoin, just behind USDG at $3.06 billion. About $1.0 billion of it lives on the XRP Ledger and $1.6 billion on Ethereum.
Robinhood needs the help. Its crypto revenue fell 55% from a year earlier to $120 million in the third quarter, its results showed on Tuesday, while prediction-market contracts grew sixfold. Lending, margin and settlement fees from institutions are steadier money than retail memecoin trading.
SIDE TRAIL: Robinhood Chain Passed $100B in DEX Volume. Now Perps Out-Trade Spot as Memecoins Fade
XRP Price: Did the Ripple and Robinhood Deal Move XRP?
Hardly. XRP traded at $1.31 when Ripple posted, and the XRP price was $1.33 at the time of writing, up 2.5% in 24 hours but 11% lower than a month ago. RLUSD settles on the XRP Ledger, yet the deal doesn’t ask anyone to buy XRP itself.
The chart is tight. XRP sits between the 200-day moving average at $1.28 and the 50-day at $1.40, which it hasn’t reclaimed since early October. A daily close above $1.37 would open the 50-day; a close under $1.25 breaks the October floor. The Fed decision today at 18:00 UTC (2:00 p.m. in Washington) will likely pick the direction before any Ripple headline does.
TRAIL MAP: Stablecoin Supply Falls to $301.6B as USDC Loses $4.15B in a Month
The Robinhood app launch is the part to watch. Bitstamp and Robinhood Chain are small next to the app, and until RLUSD shows up there, this is a deal for desks and treasurers more than for the retail crowd that made Robinhood famous.
In crypto since 2017. A technical trader with years of experience in DeFi and onchain data.
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