Ripple and Securitize announced a smart contract. It lets holders of BlackRock’s BUIDL and VanEck’s VBILL tokenized Treasury funds redeem shares for Ripple USD (RLUSD).
The feature creates a regulated off-ramp that works 24/7. It gives institutional investors instant settlement and programmable liquidity.
Ripple and Securitize enable institutional off-ramp
BlackRock launched the USD Institutional Digital Liquidity Fund (BUIDL) in March 2024. It surpassed $1 billion in assets within its first year.
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VanEck introduced the Treasury Fund (VBILL) in May 2025 on Avalanche, BNB Chain, Ethereum, and Solana. Ripple said BUIDL redemptions are live, and VBILL will follow in the coming days.
Jack McDonald, Ripple’s senior vice president of stablecoins, said the option to redeem shares for RLUSD is “a natural next step” in bridging traditional finance with crypto.
RLUSD adoption broadens beyond US institutions
Securitize framed the integration as RLUSD’s first use on its regulated platform. The platform manages more than $4 billion in tokenized assets under SEC oversight. Carlos Domingo, Securitize’s chief executive, said the deal enables “real-time settlement and programmable liquidity” across compliant products.
Ripple chose BNY Mellon to hold RLUSD reserves. Issued under a New York Department of Financial Services trust charter, RLUSD is backed one-to-one by cash and Treasurys.
Assets stay segregated and subject to attestations. Analysts note that pairing NYDFS oversight with SEC-linked platforms shows the growing overlap—and at times tension—between state and federal rules in the US.
Brad Garlinghouse said redemptions now run on Ethereum, with XRP Ledger support expected “soon.”
Ripple launched RLUSD in late 2024. Since then, the stablecoin has passed $700 million in market capitalization. It also joined Ripple’s cross-border payments network and gained traction in decentralized finance pools.
Ripple partnered with DBS and Franklin Templeton in Singapore to add RLUSD to asset management. It expanded access in Africa to support remittances and payments. The firm also planned a 2026 launch in Japan with SBI under Financial Services Agency rules.
Source: https://beincrypto.com/ripple-rlusd-tokenized-funds-global-competition/
