Ripple and Securitize Enable RLUSD for BlackRock and VanEck Tokenized Funds

Ripple and Securitize launch RLUSD smart contract functionality for BlackRock’s BUIDL and VanEck’s VBILL tokenized funds, enabling 24/7 on-chain exchanges.

Ripple and Securitize have announced a new smart contract enabling holders of BlackRock’s BUIDL and VanEck’s VBILL tokenized funds to exchange their shares for Ripple USD (RLUSD). The integration provides a 24/7 stablecoin off-ramp, expanding liquidity and on-chain transfer options for institutional investors.

BlackRock’s USD Institutional Digital Liquidity Fund (“BUIDL”) and VanEck’s Treasury Fund, Ltd. (“VBILL”) are the first tokenized funds issued by these firms on public blockchains. The RLUSD smart contract allows fund holders to access instant, regulated stablecoin liquidity while maintaining exposure to tokenized treasury assets. RLUSD support for BUIDL is live immediately, with VBILL integration expected in the coming days.

How RLUSD Works for Tokenized Funds

RLUSD is an enterprise-grade stablecoin designed for regulatory compliance, transparency, and consistent liquidity. It is backed 1:1 by USD held in high-quality liquid assets. Key features include:

• Strict reserve management and asset segregation
• Third-party attestations
• Clear redemption rights
• Issuance under a New York Department of Financial Services (NYDFS) Trust Company Charter

Jack McDonald, SVP of Stablecoins at Ripple, explained: 

“Making RLUSD available as an exchange option for tokenized funds is a natural next step as we continue to bridge traditional finance and crypto. RLUSD is for institutional use, offering regulatory clarity, stability, and real utility.” 

The integration of RLUSD, BUIDL, and VBILL allows holders to execute decentralized finance (DeFi) strategies while maintaining exposure to short-term treasury yields.

Securitize and the XRP Ledger Integration

Securitize, the platform behind these tokenized funds, is also integrating with the XRP Ledger (XRPL). Carlos Domingo, Co-Founder and CEO of Securitize, said the partnership “delivers real-time settlement and programmable liquidity across a new class of compliant, on-chain investment products.”

g and operates as a registered broker-dealer, digital transfer agent, and fund administrator. Its collaboration with Ripple enables institutional investors to use RLUSD for automated liquidity and real-time settlement within tokenized funds.

BUIDL: BlackRock’s Tokenized Treasury Fund

BUIDL launched on March 20, 2024, through Securitize, offering institutional investors access to US Treasury, cash, and repurchase agreements. Key details include:

• Current AUM: over $2 billion across 91 holders
• Supported blockchains: Ethereum, Solana, Avalanche, Aptos, Arbitrum, Polygon, Optimism
• Daily income distribution
• Management fees: 0.20–0.50%
• Monthly transfer volume: around $425 million

RLUSD support allows BUIDL holders to convert shares into a stable, on-chain asset while preserving yield and leveraging DeFi strategies.

VBILL: VanEck’s Tokenized Treasury Fund

VanEck entered the tokenized fund market with VBILL on May 13, 2025. Designed for qualified investors, VBILL provides blockchain-based exposure to short-term US Treasuries. Fund details include:

• AUM: $74 million across 14 holders
• Supported blockchains: Ethereum, BNB Chain, Solana, Avalanche
• Minimum investment: $100,000

RLUSD integration will allow VBILL holders to access continuous liquidity via smart contract, similar to BUIDL.

Benefits of RLUSD Integration

The addition of RLUSD as an exchange option for tokenized funds brings several institutional benefits:

• 24/7 liquidity: Investors can swap fund shares for RLUSD at any time
• On-chain transfers: Facilitates seamless participation in DeFi and cross-chain activity
• Regulatory clarity: Issuance under NYDFS Trust Charter ensures compliance
• Automated settlement: Smart contract execution reduces operational friction

This functionality illustrates the broader trend of bridging traditional finance with blockchain infrastructure.

RLUSD launched in late 2024 and is integrated across multiple DeFi platforms and Ripple’s cross-border payment solutions. Key metrics:

• Market capitalization: $740 million
• Usage in liquidity pools and cross-border transactions
• Enterprise-focused compliance and regulatory design

The stablecoin’s design aims to meet institutional expectations for both security and operational efficiency, making it suitable for tokenized asset settlements.

Conclusion

The RLUSD integration with BlackRock’s BUIDL and VanEck’s VBILL provides regulated, on-chain liquidity for tokenized short-term treasury funds. Through smart contracts, institutional investors gain:

• Instant, programmable access to RLUSD
• Preservation of fund yield
• Cross-chain and DeFi compatibility
• Real-time settlement and automated liquidity

The partnership between Ripple and Securitize represents a practical step toward combining tokenized fund structures with enterprise-grade stablecoins, improving operational efficiency and financial transparency.

Resources:

1. Press release - Ripple and Securitize Enable RLUSD Smart Contract Functionality for BlackRock’s BUIDL and VanEck’s VBILL Tokenized Funds: https://ripple.com/ripple-press/ripple-and-securitize-enable-rlusd-smart-sontract-functionality-for-blackrock-buidl-and-vaneck-vbill-tokenized-funds/

2. Securitize press releases: https://securitize.io/learn/press

3. Ripple X platform: https://x.com/Ripple

4. RLUSD data: https://coinmarketcap.com/currencies/ripple-usd/