RLUSD lands on Coinbase and Robinhood, earns Moody's rating in push for stablecoin market share

Ripple received final approval from the Office of the Comptroller of the Currency for Ripple National Trust Bank, earned Moody's A2 long-term and P-1 short-term ratings for RLUSD, and announced a Robinhood partnership and expanded BNY deal in which BNY holds assets on Ripple's behalf, plus a Coinbase listing, within days. A2 is Moody's sixth-highest long-term grade and P-1 its top short-term grade. The bank will oversee RLUSD reserves and act as collateral trustee, while issuance remains with Ripple subsidiary Standard Custody & Trust Company. RLUSD, launched in December 2024, has about $2.6 billion in circulation, roughly 0.8% of a stablecoin market above $300 billion; Coinbase users can trade and manage it and swap dollars or other dollar stablecoins 1:1.