Ripple’s RLUSD Stablecoin Gains Coinbase Access and Moody’s Rating
Ripple’s RLUSD stablecoin launches on Coinbase and Base following an investment-grade rating from Moody’s Ratings.
Ripple's RLUSD Stablecoin Gains Coinbase Access and Moody's Rating
Ripple's RLUSD stablecoin launches on Coinbase and Base following an investment-grade rating from Moody's Ratings.
RLUSD Stablecoin Expands to Coinbase and Base
Ripple's RLUSD stablecoin has officially launched on Coinbase and its Base blockchain network. The agreement makes the token available across Coinbase's retail and institutional trading platforms, expanding its distribution through the largest US cryptocurrency exchange.
Under the new integration, customers can trade and manage RLUSD through Coinbase's retail application, Coinbase Exchange, and Coinbase Prime. The platform also allows users to convert US dollars and other supported dollar-backed stablecoins into RLUSD at a 1:1 rate.
Moody's Awards Investment-Grade Rating
The expansion onto Coinbase follows another major milestone for the asset, as Moody's Ratings assigned the RLUSD stablecoin an A2 long-term deposit rating and a P-1 short-term deposit rating. According to Ripple, this makes RLUSD the first stablecoin to receive an investment-grade rating.
Moody's based its assessment on the quality and liquidity of RLUSD's reserves, redemption arrangements, custody protections, regulatory oversight, and operational controls. The stablecoin's reserves consist predominantly of short-term US government securities and cash, with issuer Standard Custody & Trust Company targeting 103% reserve coverage.
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