Robinhood taps Ripple’s $2.5 billion RLUSD stablecoin despite backing rival USDG

Ripple’s RLUSD stablecoin is set to reach Robinhood’s retail customers later this year, giving the dollar-backed token access to a brokerage platform with roughly 28.6 million funded accounts. “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,” said Monica Long, president of Ripple. The companies announced the partnership on Tuesday. RLUSD is already available on Robinhood Chain and Bitstamp, the crypto exchange Robinhood acquired for $200 million in June.

Also reported by CoinTurk News, U.Today.

Source: CoinDesk