Ripple Expands RLUSD to Ethereum Layer 2s with Wormhole
Ripple Labs is piloting the expansion of its US dollar-backed stablecoin, RLUSD, to Ethereum layer-2 blockchains—Optimism, Base, Ink, and Unichain—in partnership with Wormhole, a crosschain protocol enabling native token transfers. This move aims to create a scalable and interoperable ecosystem, avoiding the fragmentation caused by wrapped tokens and instead allowing RLUSD to exist natively on each supported blockchain. RLUSD initially launched on the XRP Ledger and Ethereum, with Ripple emphasizing the need for highly regulated stablecoins as the crypto space grows more multichain. Further expansion to additional blockchains is planned next year, pending regulatory approvals. RLUSD is approved under New York’s Trust Company Charter, with Ripple also seeking a federal charter for additional oversight. Since launching in December 2024, RLUSD has reached a market capitalization of $1.3 billion, gaining traction through integrations with platforms such as Transak and Xaman wallet. This places RLUSD among the top ten USD stablecoins, although well behind leaders like Tether’s USDT and Circle’s USDC.
