Ripple concluded Swell 2026: RLUSD launched on Coinbase, Robinhood, and BNY, XRP hits new low

Ripple concluded the Swell 2026 conference with announcements featuring Coinbase, Robinhood, and BNY, along with regulatory news. The company's CEO, Brad Garlinghouse, addressed concerns that the growth of the RLUSD business is overshadowing XRP: he called the token the "north star" of Ripple and stated that the company wants to engage only in activities that benefit it. However, he acknowledged that RLUSD or fiat currencies might be better suited for certain financial operations.

Coinbase expanded access to RLUSD on Coinbase Prime, Coinbase Exchange, and in the retail app; support covers XRPL, Ethereum, and Base. Ripple also announced a broader partnership with Robinhood: RLUSD will be used in Bitstamp, institutional settlements, and eventually in the main app, while Robinhood will integrate Ripple Treasury into its internal financial operations. BNY expanded custodial support for XRP and RLUSD. Moody’s assigned the stablecoin a long-term rating of A2 and a short-term rating of P-1 – the highest short-term rating in its methodology for stablecoins.

Ripple reported that the annual run rate revenue from products is approaching $900 million. The company received final approval from the OCC to establish Ripple National Trust Bank – a federally supervised entity to support RLUSD reserves and institutional custody of digital assets. Ripple Treasury will integrate AI tools for cash management, payments, forecasting, and liquidity, including 24/7 Returns for businesses with eligible digital assets like RLUSD.

On XRPL, Ripple and C2FO are implementing C2FO's Instant Pay platform so that suppliers receive funds in seconds instead of waiting for bank transfers. XRPL developers proposed four code changes to tighten control over permissioned tokens: the fixCleanup3_5_0 update will close remaining exceptions, including routes through AMM, and generally restrict unauthorized holders by returning tokens to the issuer until permission is granted. Flare joined the list of XRPL validators, while the XRP Ledger Foundation removed Anodos Finance at the project's request before the planned shutdown of the validator at the end of the month.