Ripple and Robinhood Link Tokenization to Settlement and Treasury

Ripple and Robinhood’s Oct. 27 partnership puts tokenization’s practical uses in focus through stablecoin settlement and treasury services, as Robinhood’s Stock Tokens remain restricted in the United States.

A day later, Ripple President Monica Long and Johann Kerbrat, Robinhood’s senior vice president and general manager of Crypto and International, discussed tokenization at Ripple Swell in New York. Long said issuing digital assets is only an initial step. “Tokenization itself is not a use case. Tokenizing is not the hard part, it’s the aspect of utility that comes after it,” she said. Long has previously argued that tokenized assets would favor public blockchains.

Kerbrat discussed extending tokenization beyond stablecoins to equities, private equity and real estate. He described round-the-clock movement, fractionalization and faster settlement as potential benefits. “We don’t want to just tokenize things. We actually want to use it,” he said.

Under the agreement, RLUSD is live on Robinhood Chain and Bitstamp by Robinhood and is set to be used for institutional settlement on the XRP Ledger. Robinhood also plans to integrate Ripple Treasury, while the agreement extends Ripple Prime services to Bitstamp by Robinhood. The partnership covers settlement and treasury services; it does not announce a tokenized-equity product.

Robinhood launched its Stock Tokens in July 2026. They are tokenized debt securities that provide economic exposure to stocks and exchange-traded funds, but no legal ownership or shareholder rights. The products are restricted in the United States.

A Sept. 17 Securities and Exchange Commission order granted temporary, conditional relief for certain venues to trade some tokenized U.S.-listed stocks in permissioned markets. Eligible tokens must provide the same rights as equivalent traditional shares, and the order limits symbols and trading volume. Robinhood’s Stock Tokens and Classic Stock Tokens do not qualify for the exemption.

RLUSD is expected to reach Robinhood’s app later in 2026.