Ripple Partners with Coinbase and Hits $900M Revenue Run Rate in Major Business Expansion

Ripple and Coinbase have partnered to integrate the Ripple USD (RLUSD) stablecoin into Coinbase’s retail and institutional platforms. For fintech professionals, this move signals a significant consolidation of enterprise-grade liquidity in the U.S. market, bridging the gap between traditional settlement rails and digital asset infrastructure through a federally regulated trust bank framework.

What was announced

Ripple and Coinbase are expanding market access for RLUSD, an enterprise-grade stablecoin. Starting immediately, the asset is available for trading and management via Coinbase Prime, Coinbase Exchange, and the Coinbase Retail app. Users can perform 1:1 conversions from U.S. dollars and other supported USD-denominated stablecoins into RLUSD. The partnership also includes plans to bring the stablecoin to Coinbase Global Exchange customers, where it will be utilized as collateral.

The integration spans multiple blockchain ecosystems, supporting deposits and withdrawals across the XRP Ledger (XRPL), Ethereum, and Base. On the Base network, Ripple will actively provide liquidity to foster the stablecoin's growth. Since its launch in December 2024, RLUSD has reached a market capitalization exceeding $2.4 billion, seeing adoption across spot trading, derivatives, and decentralized finance (DeFi).

This expansion comes as Ripple reports it is on track to reach $900 million in annualized product revenue by the end of 2026. The company’s growth follows a series of strategic acquisitions in 2025 and a massive transaction volume of over $16 trillion enabled across its products during that same year. Furthermore, RLUSD is backed by the newly chartered Ripple National Trust Bank (RNTB), which has received final approval from the Office of the Comptroller of the Currency (OCC) to operate as a federally supervised national trust bank.

"Institutional appetite for compliant, high-quality stablecoins is clear. The challenge is making them readily available through the platforms institutions already trust and use,"

Jack McDonald, SVP of Stablecoins at Ripple

The companies involved

Ripple is a provider of blockchain and crypto solutions for global finance, focusing on solving inefficiencies in money movement. The company is best known for its use of the XRP digital asset to enable real-time, 24/7 settlement. In 2025, the firm focused on scaling its infrastructure, which has now culminated in the launch of its own federally regulated national trust bank. Ripple has historically positioned itself at the intersection of traditional finance and the "Internet of Value," aiming to tokenize assets for use in trading and as collateral.

Coinbase is a major U.S.-based digital asset exchange and infrastructure provider. It operates a suite of products including Coinbase Prime for institutional clients and a retail-facing application. The company has expanded its reach through the development of Base, an Ethereum Layer 2 network, and its Global Exchange for international derivatives trading. Coinbase Institutional, led by Co-CEO Brett Tejpaul, focuses on providing execution, settlement, and custody services to professional market participants. Both companies have become central pillars of the U.S. digital asset ecosystem, navigating complex regulatory landscapes to provide compliant financial services.

What FF News has reported before

FF News has closely followed Ripple’s aggressive expansion throughout 2026. On October 28, 2026, we reported on Ripple and Robinhood Partner to Integrate RLUSD Stablecoin and Automate Global Treasury Operations, which highlighted the stablecoin's entry into retail brokerage. This followed our coverage on October 27, 2026, regarding Ripple and BNY Expand Digital Asset Alliance to Modernize Tokenized Trade Finance, illustrating the company's push into institutional trade finance. These developments reflect a broader trend of traditional financial giants adopting blockchain rails, as seen in our recent reports on Mastercard’s global payment expansions and creator-focused financial products.

What this means

The partnership between Ripple and Coinbase represents a maturing of the stablecoin market, moving away from offshore, unregulated assets toward onshore, bank-issued tokens. By securing an OCC charter for Ripple National Trust Bank, Ripple is directly challenging the dominance of established stablecoin issuers by offering a higher level of regulatory oversight. This puts significant pressure on non-bank issuers to prove their reserve transparency and compliance credentials. For the wider industry, the availability of RLUSD on Coinbase Prime suggests that the "everything exchange" model is becoming the standard for institutional crypto, where custody, execution, and settlement are no longer fragmented across different providers.