BlackRock And VanEck’s Tokenized US Treasuries Can Now Be Traded With Ripple’s RLUSD

Ripple’s RLUSD stablecoin can now be used to exchange tokenized money-market funds from asset management giants BlackRock and VanEck, which offer qualified investors exposure to U.S. Treasuries and cash equivalents.

The crypto fintech behind the XRPL blockchain and XRP cryptocurrency has partnered with real-world asset (RWA) tokenization platform Securitize to integrate the stablecoin as an off-ramp that would allow holders of the investment products to redeem shares on-chain.

This setup allows traders to benefit from the flexibility and real-time settlement features of blockchain-issued assets without depending on traditional redemption processes, which are time-consuming and not available all day long.

BUIDL and VBILL Funds Support Redemptions in RLUSD on Securitize

A new smart contract launched on Securitize enables investors of two of the largest tokenized funds globally – BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) and VanEck’s Treasury Fund (VBILL) – to exchange their shares for RLUSD on demand, at any time of the day. Both products, backed by short-term U.S. Treasuries, are among the first flagship products from major asset managers to be issued directly on public blockchains.

Support for BUIDL/RLUSD is live on the platform, while VBILLL/RLUSD will be available in the coming days, with Ripple calling the setup a 24/7 stablecoin off-ramp for tokenized treasuries. The move positions RLUSD as a settlement layer for real-world assets while broadening its institutional footprint.

Securitize co-founder and CEO Carlos Domingo said that the company’s partnership with Ripple to integrate RLUSD into its RWA tokenization infrastructure is a “major step forward” in automating liquidity for tokenized assets. Meanwhile, Jack McDonald, senior vice president of stablecoins at Ripple, reiterated that the tie-up is a “natural next step” in bridging traditional finance and decentralized finance (DeFi), framing the stablecoin as a regulatory-compliant and enterprise-grade instrument.

What is the RLUSD Stablecoin?

RLUSD, launched in December 2024, is a cryptocurrency designed to maintain a constant peg with the US dollar, providing users a stable digital currency for transactions and trading. The stablecoin, issued by Ripple under a New York Department of Financial Services (NYDFS) trust charter, is fully backed by a segregated reserve of USD deposits, short-term US Treasury  bonds, and other cash equivalents to ensure parity and redeemability at a 1:1 ratio with the dollar.

The token operates on two major blockchains: XRP Ledger (XRPL) and Ethereum, where it functions as an ERC-20 standard token. This multi-chain compatibility allows for broader accessibility across wallets, exchanges, and DeFi platforms. RLUSD’s primary purpose is to facilitate efficient, low-cost cross-border payments, enhance liquidity within the XRPL ecosystem, and serve as a reliable medium for business-to-business (B2B) and business-to-consumer (B2C) transactions. It is also designed to support various DeFi use cases, such as staking, lending, borrowing, and liquidity provision.

The stablecoin with a circulating supply of $700 million is enterprise-focused and has been accepted by some global authorities for RWA tokenization. In June, the Dubai Land Department announced RLUSD support for its real estate tokenization initiative.

Securitize’s Assets Under Management (AUM) Nears $4 Billion, as Investor Demand for RWAs Soar

Securitize’s RLUSD integration comes as the total value of tokenized RWAs on the platform nears $4 billion. 

In March 2024, BlackRock’s BUIDL became the first tokenized money-market fund to be released on the exchange, which allowed qualified investors to earn a USD yield. A year after launch, BUIDL surpassed $2.3 billion in assets under management (AUM), marking a significant milestone in the growth of on-chain tokenization market. It’s currently issued on seven blockchains: Ethereum, Solana, Polygon, Aptos, Arbitrum, Avalanche, and Optimism.

VanEck’s VBILL fund debuted on Securitize in May 2025 and is available on the Avalanche, BNB Chain, Ethereum, and Solana blockchains. The US Treasury-backed tokenized fund currently supports USDC and the dollar for fees and redemptions. According to data from RWA. xyz, VBILL has a total value of $6.91 billion.

Securitize and Ripple’s partnership will be key in deepening the utility for the XRP Ledger blockchain, acting as an issuance layer for a regulatory-compliant stablecoin on one side, and a DeFi-facing chain on the other.

At the time of writing, XRP, the native asset of the XRPL blockchain, is trading at $2.87, up 0.24% in the last 24 hours.