Robinhood to offer Ripple's RLUSD stablecoin to retail users despite backing rival USDG

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Robinhood helped launch USDG, a dollar-backed stablecoin that competes with Ripple's offering. The brokerage now plans to make Ripple's RLUSD available to its retail customers later this year. The move is notable because Robinhood is a backer of the rival token. RLUSD, which carries a market value of roughly $2.5 billion, is the focus of the planned rollout. The decision suggests the platform is willing to offer multiple dollar-pegged tokens to its users.

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