Ripple has announced a strategic partnership with U.S.-based cryptocurrency exchange Coinbase to broaden the usage of its dollar-backed stablecoin, RLUSD. Through this collaboration, RLUSD is now available for trading and asset management on Coinbase Prime, Coinbase Exchange, and Coinbase’s investor application, as disclosed by Ripple today.
Ripple and Coinbase Enhance Stablecoin Functionality
In a significant move to bolster the utility of RLUSD, both deposits and withdrawals for the stablecoin will be supported across the XRP Ledger, Base, and Ethereum networks. Additionally, Ripple aims to provide liquidity support for RLUSD within Coinbase’s Base ecosystem. This partnership also enables seamless one-to-one conversions between RLUSD and the U.S. dollar.
RLUSD depositing and withdrawal operations will be facilitated via the XRP Ledger, Base, and Ethereum networks. Ripple plans to provide liquidity in support of RLUSD usage within Coinbase’s Base ecosystem. Meanwhile, Coinbase offers a seamless one-to-one conversion feature between RLUSD and the U.S. dollar.
In the near future, Coinbase Global Exchange users will gain access to additional services, including the use of RLUSD as collateral. Jack McDonald, Ripple’s Vice President of Stablecoins, emphasized the importance of offering institutions a compliant stablecoin that can be easily leveraged on platforms they are already accustomed to using.
Jack McDonald highlighted, “It is crucial for institutions to easily evaluate a compliant stablecoin on platforms they already utilize. Our partnership with Coinbase aims to enhance accessibility to RLUSD for trading, swapping, and custody operations.”
Ripple has also divulged that since its launch in December 2024, RLUSD has exceeded a market capitalization of $2.6 billion in less than two years.
180,000 HYPE Tokens to Unlock on Hyperliquid
Hyperliquid, a decentralized cryptocurrency exchange, is set to unlock 180,000 HYPE tokens earmarked for its team. According to BlockBeats, this announcement was relayed by a representative from Hyperliquid Labs through their Discord channel.
The token unlocking will trigger distributions on various future dates, with the physical distribution of these HYPE tokens scheduled for November 6.
While the unlocking of tokens often results in a short-term downward pressure on prices due to an increase in supply, it does not necessarily imply an imminent sale of these tokens.
Zcash Community Debates Development Fund Allocation
Within the Zcash community, there is ongoing discourse concerning the substantial accumulation in the development fund, which reportedly exceeds current funding needs. According to a report by Bankless, the net size of the Zcash Community Grants (ZCG) fund pool is estimated at around $125 million, considerably more than the current spending requirements.
Sean Bowe, a co-founder of Zcash and current executive at Tachyon, has proposed a draft to terminate the 8% block reward allocation to the ZCG in an upcoming network update.
There are four proposals under discussion within the community regarding modifications to the development funding framework. These include reducing the percentage allocated to the ZCG, entirely discontinuing the contribution framework, or gradually phasing out the allocation rate.
Supporters of change argue that as the ZEC price appreciates, the current mechanism leads to excessive fund accumulation, which does not remain under direct control of token holders. Opponents, however, caution that cutting this funding without establishing an alternative source might hinder the protocol’s development and maintenance. The proposals remain in the discourse stage with no definitive decisions yet.
