Ripple’s RLUSD stablecoin has been integrated into Securitize’s platform, marking a significant development for users looking to exchange shares in tokenized money market funds for this dollar-pegged asset. This integration is facilitated through a smart contract, which presents another off-ramp for products from major asset managers, BlackRock and VanEck. The system operates 24/7, ensuring users can access instant liquidity, as noted in Ripple’s recent press release.
RLUSD, which made its debut in December, has seen rapid growth, achieving a market capitalization of $740 million over the past year, despite being smaller than established alternatives like Tether and Circle. Jack McDonald, senior vice president of stablecoins at Ripple, characterized the integration as a “natural next step” aimed at bridging traditional finance with the cryptocurrency landscape. He emphasized that RLUSD was specifically designed for institutional use, underscoring its tailored approach to meeting the needs of sophisticated investors.
Securitize previously announced a similar collaboration roughly a year ago, integrating Circle’s USDC into its platform. This integration was intended to lower investment costs and streamline the subscription process for investing in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). Current estimates value BlackRock’s BUIDL at approximately $2 billion, according to data from RWA.xyz, with around 90 qualified investors holding shares in the fund, which is tokenized across multiple blockchains, including Solana, Avalanche, Ethereum, Polygon, as well as layer-2 solutions like Arbitrum and Optimism.
Another fund, the VanEck Treasury Fund (VBILL), which can also be exchanged for RLUSD on Securitize’s platform, currently holds a value of $74 million with just 14 different investors. Both BUIDL and VBILL are represented by tokens that can be traded at a value of $1. However, unlike most stablecoins, these funds offer investors a yield, adding to their attractiveness.
While products issued through Securitize’s platform have not yet been implemented on the XRP Ledger, Tuesday’s announcement hinted at plans for additional use cases and assets, with Securitize aiming to enhance access and utility within the XRPL ecosystem.
In a related development, Ripple recently released an updated roadmap for XRPL, highlighting new compliance features such as the ability for token issuers to “deep freeze” wallet addresses and a method for testing transactions before execution.
Securitize CEO and co-founder Carlos Domingo expressed his enthusiasm about the collaboration, stating that integrating RLUSD into their tokenization infrastructure represents a significant advancement toward automating liquidity for tokenized assets. He highlighted that together, they are paving the way for real-time settlement and programmable liquidity across a new class of compliant, on-chain investment products.
