Robinhood plans to offer Ripple's RLUSD stablecoin to retail customers in its app by the end of 2026, potentially reaching its 28.6 million funded customers. The move is unusual because Robinhood helped establish the Global Dollar Network in 2024 to promote USDG, a rival stablecoin issued by Paxos, and it remains unclear how the two tokens will coexist in its products. The partnership also covers RLUSD settlements for Bitstamp on the XRP Ledger, Robinhood's adoption of Ripple's treasury software, and plans to add perpetual futures trading later this year. RLUSD, launched in 2024, has a market capitalization of more than $2.5 billion, according to the press release.
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- Robinhood Taps Ripple's Stablecoin, Treasury Software and Trading Loans
Ripple's RLUSD stablecoin went live on Robinhood Chain and the Bitstamp exchange and is expected to reach the main Robinhood app later this year. Robinhood will use Ripple Treasury to run its global cash operations and RLUSD on the XRP Ledger for institutional settlement at Bitstamp. Ripple Prime already provides Bitstamp with lending across roughly 20 digital assets, and Ripple paid $1.25 billion for the firm, formerly called Hidden Road. RLUSD launched in 2024 and has a market capitalization that tops $2.5 billion. Robinhood, with 28.6 million funded customers, pared back its crypto listings during the SEC crackdown on Ripple and other companies, and its crypto transaction revenue fell 34% in the first quarter to $134 million.
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Ripple and Robinhood have expanded their partnership to bring the RLUSD stablecoin to Robinhood's retail and institutional businesses, with integrations in treasury management, lending and trading. RLUSD is already available on Robinhood Chain and Bitstamp by Robinhood, with a launch in the Robinhood app planned for later this year, and Robinhood will also adopt Ripple Treasury for its global cash operations. Ripple also expanded its partnership with BNY to support custody of XRP and RLUSD, and partnered with C2FO to bring its Instant Pay service onto the XRP Ledger using RLUSD, with first transactions expected by year-end. According to DeFiLlama, RLUSD, launched in 2024, has a market capitalization of $2.57 billion, with nearly $1 billion issued on the XRP Ledger. The announcements followed Ripple's final approval from the US Office of the Comptroller of the Currency to establish a national trust bank, which will manage reserves backing RLUSD.
- Ripple strikes deal with Robinhood to expand its RLUSD digital dollar
Ripple has struck a deal with Robinhood to expand use of its RLUSD stablecoin for institutional trade settlement and Robinhood's treasury operations, and to broaden access to digital asset trading and financing through Ripple Prime and Bitstamp, which Robinhood acquired last year. The partnership supports Robinhood's goal of becoming a global financial super-app. Ripple's president says stablecoins have become critical financial infrastructure, while Circle is pursuing a similar model that pairs stablecoins with cross-border payment infrastructure. RLUSD's market cap has grown past $2.5 billion, while the total stablecoin market exceeds $300 billion and is dominated by Tether's USDT and Circle's USDC. Robinhood shares rose about 2.5% in early trading Tuesday.
- Ripple strikes deal with Robinhood to expand its RLSUD digital dollar
Ripple has struck a deal with Robinhood to expand use of its RLUSD stablecoin, settling institutional trades in RLUSD, automating Robinhood's treasury operations and widening access to digital asset trading and financing through Ripple Prime and Bitstamp, the exchange Robinhood acquired last year. Robinhood Crypto's general manager said utility is what moves stablecoins forward, while Ripple President Monica Long said stablecoins have become critical financial infrastructure. Circle, a Ripple competitor, is pursuing a similar model with the Circle Payments Network launched earlier this year. RLUSD's market cap has grown above $2.5 billion, while Tether's USDT and Circle's USDC still dominate a stablecoin market exceeding $300 billion. RLUSD will also be listed on Robinhood's trading platform.
- Robinhood Misses Q3 Earnings as Crypto Revenue Rises and Prediction Market Bets Grow
Robinhood reported record third-quarter revenue of $1.42 billion, slightly below the roughly $1.43 billion expected, and earnings of $0.51 per share versus $0.55 expected. Event contracts revenue rose to $173 million from $156 million in the prior quarter, while crypto revenue rose to $120 million but fell 55% from a year earlier. Customers traded a record 16.4 billion event contracts, more than seven times a year earlier. Net income was $476 million, down 14% from a year earlier, and the quarter included a $67 million unrealized loss on Robinhood Ventures Fund I. The company narrowed its 2026 adjusted operating expense guidance to $2.675 billion to $2.75 billion, and shares slipped in after-hours trading.
- Robinhood's crypto revenue fell 55% from last year, but topped Street forecasts
Robinhood's third-quarter crypto trading revenue fell 55% year over year to $120 million, or 8.4% of total revenue versus 21% a year earlier, but still beat analysts' forecast of $114.1 million. Crypto trading volume dropped 38% to $50 billion, with the Robinhood app down 48% to $21 billion and Bitstamp down 28% to $29 billion. Total revenue rose 12% to $1.424 billion, helped by options, equities and prediction markets, while third-quarter EPS of $0.51 fell short of the $0.55 consensus. Robinhood Chain processed more than $80 billion in decentralized exchange volume and generated over $50 million in chain fees in its first quarter on mainnet, though the company did not disclose how much of that was recognized as revenue. Shares fell about 5% in post-market trading.
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