Ripple and Robinhood announce a partnership, aiming to expand the use of RLUSD stablecoins in retail and institutional services.

Robinhood plans to use RLUSD for institutional settlements on XRP Ledger. Robinhood will also integrate Ripple Treasury for cash management, payments, liquidity planning, and risk management.

Ripple This blockchain solutions provider stated that it has collaborated with the digital brokerage platform Robinhood to bring their RLUSD stablecoin to more users and to expand its use in trading, payments, and business operations.

This collaboration will connect the financial services of Ripple with the 28.6 million funded customers of Robinhood, with the goal of expanding the uses of RLUSD beyond just cryptocurrency transactions.

RLUSD to Robinhood Ecosystem

Ripple announced on October 27th a collaboration with Robinhood to expand the use of RLUSD's stablecoin. Under the new partnership, RLUSD is now available on Robinhood Chain, Bitstamp, by, and Robinhood, with plans to be added to the main Robinhood application later this year.

Robinhood has 28.6 million customers who have made deposits globally, which provides a vast user base for RLUSD. The cooperation between the two parties will also allow Robinhood to use RLUSD for institutional settlements on XRP Ledger ( XRPL ).

This will enable the stablecoin to play a more extensive role in retail transactions and financial services.

Robinhood will use Ripple Treasury.

This collaboration also covers the business operations of Robinhood. Robinhood will use Ripple Treasury to manage cash, track cash flows, plan future cash needs, process payments, and manage financial risks. It will also assist Robinhood in handling payments between different departments within the business.

Ripple President Monica Long stated that this collaboration meets the growing demand for collaborative financial tools.

"From bringing RLUSD to the retail and institutional markets to helping Robinhood manage its own cash operations, this collaboration reflects the growing demand from institutions for integrated solutions."

Ripple Prime Increase financing support

This collaboration has also expanded the partnership between the two parties through Ripple Prime. This service provides approximately 20 types of digital asset lending and guaranteed financial services for Bitstamp, by, and Robinhood.

It also allows Ripple Prime customers to conduct spot trading on Bitstamp. The feature to support perpetual futures trading is planned to be launched later this year.

Robinhood Crypto and Johann Kerbrat, Senior Vice President and General Manager of International Business, stated that the focus of this collaboration is to give stablecoins real-world applications.

"Practicality drives the forward development of stablecoins."

He mentioned that RLUSD settlement, Ripple Treasury, and Ripple Prime are all services that can help connect different parts of the financial system.

As the use of stablecoins in financial services becomes increasingly widespread, at the time of this collaboration, the total supply of stablecoins has exceeded $300 billion, and the market value of RLUSD has grown to over $2.612 billion.