Ripple Labs officially launches its USD-backed stablecoin RLUSD multi-chain expansion pilot, marking Ripple’s further deployment in the stablecoin and multi-chain infrastructure space. According to an official statement, RLUSD will be extended to multiple Ethereum L2 networks, including Optimism, Base, Ink, and Unichain, in a pilot phase before obtaining full regulatory approval.
This expansion was completed in cooperation with cross-chain interoperability protocol Wormhole. Wormhole’s cross-chain technology allows assets to be securely transferred between different blockchains and is regarded as a key infrastructure in the current multi-chain ecosystem. RLUSD has previously been issued on the XRP Ledger and Ethereum mainnet. Ripple stated that extending to Ethereum L2 is crucial for building a more scalable, efficient, and interoperable financial system.
The Ripple team pointed out that the crypto industry is rapidly moving toward a multi-chain landscape. Stablecoins can better serve institutional finance and the growing on-chain economy only if deployed on networks with real demand and application scenarios. As blockchain technology gradually enters the stage of real-world applications, the demand for compliant and regulated stablecoins continues to rise.
It is noteworthy that RLUSD will adopt Wormhole’s native token transfer (NTT) standard in this pilot. This means RLUSD can circulate across multiple blockchains as a “native asset” rather than through common lock-and-wrap token mechanisms. This design helps avoid liquidity fragmentation issues, ensuring RLUSD maintains a unified standard across different chains, while related contracts are held and managed by Ripple.
Ripple also revealed that RLUSD plans to launch on more blockchains next year, provided it receives final regulatory approval. RLUSD is issued under the trust company charter of the New York State Department of Financial Services, and Ripple has also applied to the Office of the Comptroller of the Currency (OCC) for a federal trust bank charter to further strengthen its compliance attributes. Ripple’s stablecoin business leader stated that stablecoins are an important gateway connecting DeFi with institutional-grade applications.
According to market data, RLUSD was launched in December 2024, with a current market capitalization of approximately $1.3 billion. Although still smaller than leading stablecoins like USDT and USDC, RLUSD has gained noticeable attention in the retail market and is expanding its practical use cases through wallet and payment platform integrations. (Cointelegraph)
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