So much in that release.

Imagine owning one of the world’s busiest airports. You already have your own airline. So why would you invite a competing airline to land? Simple. YOU DON’T JUST MAKE MONEY FLYING PLANES. You own the runways. The terminals. The gates. The infrastructure. And every additional airline brings more passengers, traffic, and business. Now replace the airport with COINBASE. The airline it already has a major economic relationship with? USDC. The new arrival? RIPPLE’S $RLUSD. And I’m deliberately burying the lead. Because the real story isn’t the stablecoin. It’s what CB already owns. CB is among the largest crypto exchanges by spot volume. But its institutional infrastructure is far more interesting. • $246B in assets on platform (June 2026). • CB Prime: custody, execution, financing, settlement. • Major custody relationships across U.S. crypto ETFs. • Deribit: institutional crypto options infrastructure. • CB Global Exchange: international derivatives markets. • Base: its Ethereum Layer-2 ecosystem. Think about that. CB already has the venues, custody infrastructure, customers, and trading relationships. SO WHY INVITE $RLUSD INTO THE BUILDING? Because CB’s opportunity isn’t limited to issuing digital dollars. It’s servicing the institutions that USE them. More stablecoins can mean: MORE: trading pairs institutional balances custody activity liquidity financing opportunities transactions across Base And potentially more revenue. CB already benefits economically from USDC. Supporting RLUSD doesn’t necessarily weaken that business. It can expand the addressable market. FLIP THE TABLE. What does RIPPLE get? Access to CB’s distribution and institutional infrastructure without having to recreate it. What does RLUSD get? More counterparties, trading venues, potential liquidity, and a path toward collateral utility. What does XRPL get? Another connection to major institutional infrastructure, with the possibility of more stablecoin activity on-ledger. LET’S TALK ABOUT THE U.S. DOLLAR. Bessent has been emphasizing the role of stablecoins in expanding dollar distribution and demand for U.S. gov-debt. That’s the larger economic loop. Dollar deposits fund stablecoin issuance. Reserve managers hold eligible assets, including short-term Treasuries. Stablecoins circulate across financial platforms. Exchanges, custodians, and prime brokers provide the infrastructure. The issuer benefits from adoption. The platforms benefit from activity. Treasury markets can benefit from additional reserve demand. Multiple businesses. One expanding digital-dollar ecosystem. BUT — I’VE STILL BURIED THE LEAD. Remember Coinbase Global Exchange? RLUSD collateral support is planned. a stablecoin used for trading is one thing. A stablecoin accepted to support leveraged positions is another. Collateral can support margin requirements, trading exposure, and capital deployment. And that creates a reason for institutions to HOLD and USE the asset, rather than simply trade through it. The actual impact depends on collateral eligibility, haircuts, margin rules, and adoption. LETS PULL BACK THE CURTAIN: Where does XRP fit? Not automatically in every RLUSD transaction. Not because CB lists another asset. XRP enters the economic equation when moving value between currencies, networks, or liquidity pools is cheaper or more efficient THROUGH XRP than around it. More RLUSD distribution can expand the number of institutional connections. More connections = more routes. But XRP demand only materializes when those routes actually USE XRP. if they do? The conversation changes from exchange listings and custody announcements to measurable bridge liquidity, settlement volume, and capital efficiency. CB has the airport. Ripple is bringing another digital dollar into the terminal. The next question isn’t how many passengers arrive. IT’S WHICH RUNWAYS THE MONEY ACTUALLY USES. And whether XRP becomes one of them.

☕ WALL STREET DOESN’T SHOW UP FOR COFFEE. It shows up when there’s money to move. And this morning? COINBASE JUST PULLED UP A CHAIR AT RIPPLE’S TABLE. Not for the retail crowd. For the BIG MONEY, honey. Yesterday, we talked about Ripple getting the keys to the bank. Today, we’re talking about who gets access to the vault. And buried in this morning’s announcement is one word that should have every institutional investor paying attention. COLLATERAL. Pour that coffee. We’re following the money. @Ripple 🤝 @coinbase $RLUSD is LIVE across Coinbase’s retail and institutional platforms, with 1:1 dollar conversion. But the bigger story? COINBASE GLOBAL EXCHANGE PLANS TO ACCEPT RLUSD AS COLLATERAL. That’s not just trading. That’s positioning a digital dollar to support institutional capital deployment. And look who’s sitting at the table: • OCC: Ripple’s national trust bank charter development. • BNY Mellon: RLUSD reserve custody. • Moody’s: Institutional risk assessment infrastructure. • Robinhood: Another major digital asset distribution channel. • Coinbase: Trading, Prime brokerage, custody, settlement, and future collateral utility. Coinbase alone reported $246 BILLION in assets on platform as of June 30. This isn’t a small distribution agreement. It’s access to one of America’s most important institutional crypto platforms. NOW FOLLOW THE DOLLAR. Yesterday, Treasury Secretary Scott Bessent discussed the emerging digital dollar architecture at Ripple Swell. The stablecoin loop matters. Dollars enter. Stablecoins are issued. Reserves support demand for short-term Treasuries. Digital dollars circulate through financial markets. And now RLUSD expands across XRPL, Ethereum, and Base. Three networks. More distribution. More potential liquidity. Not every RLUSD transaction requires XRP. But greater institutional connectivity creates more opportunities for XRP to provide bridge liquidity where economically useful. HERE’S WHAT I’M WATCHING. When institutions have regulatory clarity, qualified custody, accepted collateral, and deep liquidity, capital can move with less friction. That’s when the infrastructure starts proving its value. And TODAY at 4:45 PM ET? Ripple’s Jack McDonald and Coinbase Institutional’s Brett Tejpaul share the stage at Swell. The next phase of institutional stablecoin adoption. Coinbase is onboard. The competitive pressure is building. DON’T BLINK. Regulation. Compliance. Custody. Liquidity. Collateral. Settlement. The suits are showing up. And they didn’t come for the coffee. COINBASE KNOWS. $$$$$$ GIDDYUP. $XRP $RLUSD