Ripple and Securitize now let holders of BlackRock’s BUIDL and VanEck’s VBILL swap shares straight for RLUSD, Ripple’s dollar backed stablecoin. The swap runs around the clock through a single smart contract, removing market hours and bank wires from the exit path. The link ties tokenized money market funds to on-chain value and cuts steps between conventional securities and crypto rails.
A single smart contract enables day-and-night redemptions of fund shares into RLUSD, giving treasuries and funds a same-day off-ramp without waiting for banks. Both products run on Avalanche, BNB Chain, Ethereum or Solana and aim to combine dollar yields with round-the-clock transferability.
RLUSD appeared in early 2025 and already holds more than 700 M USD, with cash and Treasuries backing held by BNY Mellon. Jack McDonald, Ripple’s SVP for stablecoins, told Cointelegraph the hook up is “a natural next step” between off-chain but also on-chain finance. Carlos Domingo, CEO of Securitize, said the set up lets trades settle token-to-token in real time and pulls liquidity into the on chain pool.
The keys to this RLUSD movement
A fund that can redeem into RLUSD gains a same day off-ramp and shrinks the gap between subscription and cash-in-hand. Market reports expect heavier RLUSD turnover on the XRP Ledger and note that extra demand could feed back into XRP price moves. The choice of BNY Mellon as custodian signals a pitch to risk averse institutions.
Drawbacks remain — the whole set up stands or falls on continued regulatory approval, on audits of the reserves and on the speed at which watchdogs update rules. Turning fund shares into stablecoins piles both liquidity and counterparty exposure into one token, a concentration treasuries must weigh before they act.
