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Ripple, an enterprise-focused blockchain service closely tied to the XRP Ledger, said on Tuesday that its stablecoin, Ripple USD (RLUSD), has been added to Securitize’s platform, enabling users to exchange shares in tokenized money market funds by major crypto investment firms BlackRock and VanEck for the U.S. dollar-pegged token.
Ripple and Securitize debuted a smart contract allowing holders of BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) and VanEck’s Treasury Fund (VBILL) to swap their tokenized shares for the RLUSD.
The smart contract enables BUIDL and VBILL investors to instantly exchange their shares for RLUSD at any time, facilitating additional on-chain transactions.
“Partnering with Ripple to integrate RLUSD into our tokenization infrastructure is a major step forward in automating liquidity for tokenized assets,” Securitize co-founder and CEO Carlos Domingo stated.
The move comes as Securitize seeks to expand the functionality of the XRP Ledger, according to the press release. This marks the first integration of RLUSD into Securitize’s offerings, with “additional use cases and assets planned.”
Ripple rolled out the RLUSD stablecoin on the XRPL and Ethereum blockchains in December 2024. While it’s much smaller than Tether’s USDT and Circle’s USDC, RLUSD has grown to a market cap of nearly $740 million within the past year, becoming the eighth-largest stablecoin in the industry.
Ripple’s senior VP of stablecoins, Jack McDonald, described the integration in Securitize’s platform as a “natural next step as we continue to bridge traditional finance and crypto,” adding:
“RLUSD is for institutional use, offering regulatory clarity, stability, and real utility. As adoption grows, partnerships with trusted platforms like Securitize are key to unlocking new liquidity and enterprise-grade use cases.”
RLUSD is issued under a New York Department of Financial Services (NYDFS) Trust Company Charter, and has been greenlighted by some global authorities for asset tokenization.
In June, the Dubai Financial Services Authority approved RLUSD support in the Dubai Land Department’s real estate tokenization initiative. Additionally, Singapore’s DBS Bank last week unveiled a collaboration with $1.6 trillion financial giant Franklin Templeton and Ripple to offer new trading and lending solutions using tokenized money market funds on the XRP Ledger and the RLUSD stablecoin.
The integration of RLUSD for BlackRock and VanEck’s tokenized funds comes as total tokenized real-world assets (RWAs) on Securitize surpass $4 billion.
