"RLUSD goes live on Coinbase" Oct 29, 2026
Thursday, 29 October 2026 · 2 min read · Listen to the episode ↗
RLUSD is now available on Coinbase’s retail app, Exchange, and Prime, with dollar conversions at par and transfers supported on the XRP Ledger, Ethereum, and Base; broader exchange support and collateral use are expected later. The episode also covers Moody’s A2 and P1 ratings for RLUSD, Ripple’s reported $2.6 billion market cap, and Utah’s criminal case against Kalshi amid a jurisdictional clash with the CFTC.
Ripple’s RLUSD is now available through Coinbase’s retail app, Coinbase Exchange, and Coinbase Prime. Customers can convert dollars and other supported dollar stablecoins into RLUSD at a one-to-one rate, with deposits and withdrawals supported on the XRP Ledger, Ethereum, and Coinbase’s Base network.
Coinbase’s broader global-exchange support for RLUSD, including its use as collateral, is expected to follow. Moody’s assigned the stablecoin an A2 long-term rating and a P1 short-term rating, citing credit quality and reserve assets. Ripple said RLUSD’s market capitalization has exceeded $2.6 billion.
Ripple expects to exit 2026 with a $900 million annualized product revenue run rate and said the number of customers using multiple Ripple products has tripled this year. It also expects its payments network to approach $150 billion in lifetime volume by year-end. Separately, Ripple received final OCC approval Monday to establish a national trust bank.
Utah filed criminal charges against Kalshi, CEO Tarek Mansour, and COO Luana Lopez Lara, alleging illegal online gambling and saying the company allowed an undercover agent to place wagers. Utah official Derek Brown said describing Kalshi as a prediction market does not change the nature of its activity. Kalshi called the case a “crazy overreach” and said it would fight in court.
The CFTC sued Utah, arguing federal regulators have jurisdiction over prediction markets, and has sued at least 10 states. The dispute puts state criminal enforcement claims against Kalshi in direct tension with the CFTC’s position that the market is federally regulated.
Robinhood reported third-quarter revenue of $1.42 billion. Crypto revenue fell 55% year over year to $120 million, while prediction-market revenue reached $173 million. Shares fell 10% after the company narrowly missed earnings; StoneX attributed the miss to an unrealized loss on a Robinhood venture fund and said earnings per share would have beaten consensus by 60 cents excluding that loss and other items.
Bernstein expects prediction markets, perpetual futures, and Robinhood Chain to generate about 25% of Robinhood revenue by 2028, even as the quarter showed sharply lower crypto revenue and growing prediction-market revenue.
This summary was generated from the episode transcript and can contain mistakes.