Holders of BlackRock’s BUIDL and VanEck’s VBILL onchain funds will be able to exchange their tokenized shares for the Ripple USD (RLUSD) stablecoin, following the deployment of new off ramps by Securitized.
“With this smart contract, BUIDL and VBILL holders can instantly exchange their shares for RLUSD 24/7, unlocking additional stable, on-chain transfers. Investors gain continuous exposure to RLUSD while preserving exposure to on-chain yield and a broader range of DeFi strategies,” Ripple wrote in a release on Tuesday.
The move comes as Securitize looks to expand the functionality of the XRP Ledger (XRPL), according to the announcement. This marks the first integration of RLUSD into Securitize’s offerings, with “additional use cases and assets planned.”
Ripple, a firm closely associated with the third-largest cryptocurrency, XRP, launched RLUSD in late 2024. The stablecoin — said to be “purpose-built for enterprise utility” — has since accumulated a market cap of nearly $740 million, making it the eigth-largest stablecoin.
BUIDL is by far the largest tokenized Treasury fund, with over $2 billion in assets under management, $1.7 billion of which is issued on Ethereum. VBILL, issued on Avalanche, BNB Chain, Ethereum, and Solana, has about $74 million in managed assets, according to RWZ.xyz. Both funds seek to maintain a net asset value of $1, functioning similarly to stablecoins that can be swapped and deployed across the decentralized onchain economy.
“Partnering with Ripple to integrate RLUSD into our tokenization infrastructure is a major step forward in automating liquidity for tokenized assets,” Securitize CEO Carlos Domingo said. “Together, we’re delivering real-time settlement and programmable liquidity across a new class of compliant, on-chain investment products.”
RLUSD is issued under a New York Department of Financial Services (NYDFS) Trust Company Charter.
Last week, Singapore’s DBS Bank announced a partnership with Franklin Templeton and Ripple to offer new trading and lending solutions utilizing tokenized money market funds and the RLUSD stablecoin.
As of May, the registered broker-dealer, transfer agent, and fund administrator Securitize oversees over $4 billion in assets under management, including blockchain-based products from leading asset managers like Apollo, BlackRock, Hamilton Lane, KKR, VanEck, and others.
Earlier this year, Securitize worked with Ethena Labs to launch an Ethereum-compatible Layer 1 called Converge, which is designed specifically for real-world asset settlements.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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