Ripple expands BNY and Robinhood partnerships to push RLUSD
- —BNY began custodying XRP and RLUSD and is preparing direct minting and redemption for clients
- —RLUSD is live on Robinhood Chain and Bitstamp, with support in the Robinhood app due by year-end
- —RLUSD's market capitalization has reached about $2.5 billion
- —Ripple received final OCC approval for a national trust bank a day earlier
Why it matters: Bringing RLUSD into a major bank and a retail brokerage intensifies competition in the $300 billion-plus stablecoin market.
Source: CoinDesk Japan