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Ripple has integrated its enterprise-grade Ripple USD (RLUSD) USD-denominated stablecoin into its Ripple Payments cross-border payments solution. RLUSD allows enterprises to facilitate instant settlement of cross-border payments, access liquidity for remittance and treasury operations, integrate with decentralized finance (DeFi) protocols, bridge between traditional fiat currencies and the crypto ecosystem, and provide collateralization for trading tokenized real-world assets on-chain. Since launching in December 2024, RLUSD is nearing $250 million in market capitalization and $10 billion in trading.

Ripple Labs CEO Brad Garlinghouse reported that the New York Department of Financial Services (NYDFS) has approved the firm's RLUSD stablecoin. Testing of RLUSD, which will be "complementary and additive" to Ripple's XRP, began on the XRP ledger and Ethereum mainnets in August 2024. https://x.com/bgarlinghouse/status/1866571228464460215

Ripple has partnered with Chainlink, a decentralized oracle network, to improve the adoption and utility of its Ripple USD (RLUSD) stablecoin in decentralized finance (DeFi) applications. The collaboration will provide price feeds for RLUSD on Ethereum and the XRP Ledger, which aim to support cost-effective transactions and DeFi use cases for the enterprise-grade stablecoin. https://ripple.com/ripple-press/ripple-adopts-the-chainlink-standard-to-further-rippleusd-utility-and-access-in-defi/

Ripple is acquiring prime broker Hidden Road for $1.25 billion. With the acquisition, Ripple becomes the first crypto company to own and operate a global, multi-asset prime broker. Hidden Road offers institutions a one-stop-shop of advanced services including clearing, prime brokerage, and financing across foreign exchange (FX), digital assets, derivatives, swaps, and fixed income. The acquisition will make Ripple's RLUSD the first stablecoin to enable efficient cross-margining between the digital asset space and traditional markets, and increase XRP Ledger usage.