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Key takeaways
- Ripple used its Swell 2026 conference week in New York to make a string of announcements. On October 28 it said by the end of 2026 its yearly product revenue will be running at $900 million. That is Ripple's own figure: Ripple is a private company and didn't publish audited numbers behind it.
- For regular people in the US, one thing is clearly live: RLUSD, Ripple's dollar stablecoin, is now in the Coinbase app in supported regions. RLUSD in the main Robinhood app is still only expected later this year.
- Most of the week's news is for businesses: BNY custody of XRP and RLUSD, Ripple Treasury's 24/7 Returns, C2FO supplier payments and a tokenized Aviva fund. Ripple's national trust bank has final OCC approval but isn't a bank you can open an account with.
- RLUSD is a stablecoin, not a bank deposit. The FDIC lists crypto assets as not covered by deposit insurance.
Ripple made news almost every day this week as it hosted Swell 2026, its yearly conference, in New York. On October 28 it capped the run with a "banner year" release that says its yearly product revenue is on pace to hit $900 million by the end of 2026. Here's every announcement in one place, sorted by the question most readers have: can I actually use this, or is it for businesses?
The headline number, and how to read it
Ripple says it expects its product revenue to be running at a $900 million yearly pace by the end of 2026. An annualized "run rate" takes recent revenue and projects it over a full year, so it isn't the same as a year of booked sales. The Block reported the figure the same day, citing Ripple's announcement.
Ripple also says it holds more than 85 licenses, serves over 1,700 institutions, corporates and enterprises, and saw customers and partners grow threefold this year. It names BNY, DriveWealth, Robinhood and Water.org among customers and partners that use several of its products together.
This week's Ripple news at a glance
| Announcement | Who it's for | Status |
|---|---|---|
| RLUSD on Coinbase | Coinbase customers in supported regions, plus institutions | Live now in the Coinbase app, on Coinbase Exchange and on Coinbase Prime |
| Ripple and Robinhood | Robinhood Chain and Bitstamp by Robinhood users now; Robinhood app users later | Live on Robinhood Chain and Bitstamp by Robinhood; main Robinhood app expected later this year |
| BNY custody and C2FO payments | Banks, institutions and businesses | BNY custody of XRP and RLUSD live for eligible clients; minting through BNY and trade finance planned; C2FO Instant Pay on a waitlist |
| Ripple National Trust Bank | RLUSD reserves and business custody | Final OCC approval; not open yet. Moody's has since rated RLUSD A2 and P-1 |
| Ripple Treasury 24/7 Returns | Eligible corporate customers | Announced October 26 |
| Aviva Investors tokenized fund | Eligible fund investors with digital wallets | Launched on the XRP Ledger on October 26 |
What's live for regular people
RLUSD on Coinbase. This is the week's clearest consumer change. Coinbase says customers in supported regions can trade RLUSD in its app and swap US dollars for it one for one, and Ripple calls it a partnership. Our Coinbase post explains the three networks it moves on and the lookalike token to avoid.
RLUSD at Robinhood, partly. Ripple's October 28 release lists Robinhood among the big platforms where RLUSD is available. Per the October 27 announcement, that currently means Robinhood Chain and Bitstamp by Robinhood. The main Robinhood app is only expected later this year, so don't go looking for it there yet. Details are in our Robinhood post.
Ripple's own release adds that product availability varies by jurisdiction, so check what your app shows rather than a social media post.
What's only for businesses
- The trust bank. Ripple received final approval from the OCC, the federal regulator of national banks, for Ripple National Trust Bank. Ripple says it will manage the reserves behind RLUSD and offer custody to businesses. It isn't a place to open a checking account. Our trust bank post covers it, including the Moody's rating added on October 28.
- BNY and C2FO. BNY, one of the oldest US banks, now holds XRP and RLUSD for eligible institutional clients. C2FO plans faster supplier payments settled in RLUSD on the XRP Ledger. See our BNY and C2FO post.
- Ripple Treasury. On October 26 Ripple added 24/7 Returns, under which eligible corporate customers may earn a return on RLUSD and other qualifying digital assets kept in a Ripple wallet outside banking hours, subject to program requirements. Ripple names companies such as American Airlines and Trax as Ripple Treasury users.
- Aviva Investors. The asset manager launched a tokenized share class of its sterling money market fund on the XRP Ledger. It's an Ireland-based fund and not something US retail investors can buy through this launch.
- DriveWealth. The brokerage infrastructure firm, which powers investing apps for other companies, said on October 14 that it is adding Ripple's stablecoin settlement, starting in Europe, and plans to bring it to the US later.
What it means for you
- A stablecoin is still not a bank deposit. Even with a trust bank charter and a credit rating, RLUSD isn't FDIC-insured. The FDIC lists crypto assets as not covered.
- Business deals aren't price signals. None of this week's announcements tells you where XRP or any other coin's price goes. Be wary of posts that turn partnership headlines into price promises.
- Check before you send. If you try RLUSD, use your platform's own listing and Ripple's published token addresses, and send on the network your app names. Our guide to sending crypto safely walks through it.
The takeaway
Ripple's Swell week was mostly about banks, brokers and corporate treasurers, with one real change for everyday users: RLUSD in the Coinbase app. The revenue figure is Ripple's own claim from a private company. We'll update this page and the linked posts when RLUSD reaches the Robinhood app or the trust bank opens. This is education, not financial advice, and it reflects Ripple's announcements as of October 28, 2026.
Frequently asked questions
Can I use any of this today?
The clearest consumer change is RLUSD on Coinbase: Coinbase says customers in supported regions can now buy, sell and hold it in the Coinbase app. RLUSD in the main Robinhood app is expected later this year, with no exact date. Almost everything else announced this week is for banks, brokers and companies.
Is Ripple's $900 million revenue figure audited?
Ripple didn't say so, and it didn't publish financial statements with it. Ripple is a private company, so it doesn't file public quarterly reports the way listed companies do. Treat the figure as Ripple's own claim about its business.
Can I open an account at Ripple National Trust Bank?
No. Ripple says the trust bank, once open, will manage RLUSD's reserves and offer custody to businesses. The OCC's 2025 approval letter says it won't be an FDIC-insured bank.
Does any of this mean XRP or RLUSD is a good buy?
No. These are business announcements, not investment advice, and they don't tell you anything about where any price goes. RLUSD is designed to stay at one dollar, but it's still a stablecoin, not an insured deposit.
Sources
- Ripple Reports Banner Year Approaching $900M Annual Product Revenue Run Rate, Signs Multi-Solution Partnerships with BNY, Robinhood and more (October 28, 2026) (opens in a new tab) — Ripple
- Ripple expects $900 million annualized product revenue run rate as institutional business expands (October 28, 2026) (opens in a new tab) — The Block
- Ripple press releases (opens in a new tab) — Ripple
- Ripple Treasury Introduces Always-On Corporate Treasury Platform (October 26, 2026) (opens in a new tab) — Ripple
- Aviva Investors expands its tokenised offering with a Sterling Liquidity Fund tokenised share class (October 26, 2026) (opens in a new tab) — Ripple
- DriveWealth and Ripple Partner to Bring Institutional Digital Asset Infrastructure to Global Investing (October 14, 2026) (opens in a new tab) — Ripple
- Ripple to buy back $285 million of its shares (January 10, 2024) (opens in a new tab) — Reuters
- Understanding Deposit Insurance (opens in a new tab) — FDIC
Published October 28, 2026 by Dave McNaught. Educational content, not financial, legal or tax advice. Spot an error? Request a correction.
Dave McNaught
Dave McNaught has worked in IT since 1999 and founded All Business Technologies (ABT) in 2003, a Boston-area firm providing Managed IT, Cybersecurity, Managed AI, Web Design and App Development. He publishes The Crypto Guide.