Robinhood Plans RLUSD App Rollout as Ripple Deal Adds Settlement

Robinhood plans to bring Ripple USD (RLUSD), a dollar-backed stablecoin, to its app, while a new partnership with Ripple adds institutional settlement and treasury functions. The companies announced the partnership Oct. 27. RLUSD is already live on Robinhood Chain and Bitstamp by Robinhood. Robinhood had 28.7 million funded customers as of Sept. 30. The deal calls for RLUSD to support institutional settlement on the XRP Ledger through Bitstamp by Robinhood’s institutional business. The planned Ripple Treasury connection is intended to help Robinhood oversee intercompany netting and risk, forecast cash flow, process payments, and manage liquidity and cash. “Utility is what moves stablecoins forward,” said Johann Kerbrat, senior vice president and general manager of Robinhood Crypto and International.

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