UPDATE: Ripple deploys RLUSD liquidity on Base following Coinbase listing
CIE News ·
Update to Coinbase lists Ripple's RLUSD stablecoin across platforms, The Block reports
Based on reporting by The Defiant; not yet independently confirmed.
Following its launch on Coinbase, Ripple is adding RLUSD liquidity on Base for trading and lending, while Moody's assigned the stablecoin A2/P-1 ratings.
Ripple is deploying liquidity on Coinbase's Layer-2 network Base to support trading and lending markets following the rollout of Ripple USD (RLUSD). As previously reported, Coinbase listed the stablecoin across its retail app, Coinbase Exchange, and Coinbase Prime, enabling 1:1 conversions with the U.S. dollar.
Moody's Ratings has assigned RLUSD an A2 long-term rating and a P-1 short-term rating, tradingview.com reported. The agency noted that RLUSD's backing targets 103% reserve coverage, primarily consisting of U.S. Treasuries and cash, while circulating supply stands between $2.58 billion and $2.6 billion.
Alongside Base, deposits and withdrawals are supported on Ethereum and the XRP Ledger. Pymnts.com reported that collateral support on Coinbase Global Exchange is planned to follow.
Key facts
- Liquidity deployed on Base
- Moody's rates RLUSD A2/P-1
- 103% reserve coverage target
- $2.58B-$2.6B circulating supply
Read the original at The Defiant