It lets holders of BlackRock’s BUIDL and VanEck’s VBILL tokenized Treasury funds redeem shares for Ripple USD (RLUSD). Ripple and Securitize enable institutional off-rampBlackRock launched the USD Institutional Digital Liquidity Fund (BUIDL) in March 2024. Ripple said BUIDL redemptions are live, and VBILL will follow in the coming days. Jack McDonald, Ripple’s senior vice president of stablecoins, said the option to redeem shares for RLUSD is “a natural next step” in bridging traditional finance with crypto. Ripple partnered with DBS and Franklin Templeton in Singapore to add RLUSD to asset management.