Ripple's RLUSD stablecoin is now available on more than 40 blockchain networks, including Ethereum layer-2s like Base and Optimism, and the XRP Ledger EVM sidechain. This expansion utilizes Wormhole's Native Token Transfers (NTT) framework, enabling direct cross-chain movement of the stablecoin. RLUSD, with a market cap of $1.72 billion, is being integrated for payments, settlement, and tokenization use cases.
This broad expansion of Ripple's RLUSD stablecoin across numerous networks, facilitated by Wormhole, signifies a major step in its strategy to become a key player in institutional DeFi and cross-border payments, potentially increasing demand for regulated stablecoins and enhancing liquidity across the blockchain ecosystem.
Ripple has significantly expanded the reach of its RLUSD stablecoin, making it available on over 40 blockchain networks through the integration of Wormhole's Native Token Transfers (NTT) framework. This initiative allows RLUSD to move natively across various blockchain ecosystems, bypassing the need for wrapped token versions. The expansion includes prominent Ethereum layer-2 networks such as Base, Optimism, Ink, and Unichain, as well as the XRP Ledger EVM sidechain. The XRP Ledger EVM sidechain offers developers access to familiar Ethereum development tools while maintaining connectivity to the XRP Ledger. Ripple states that this setup is designed to support cross-border payments, institutional on- and off-ramp services, and tokenization use cases, thereby increasing access to compliant, USD-backed liquidity across supported networks. Launched in late 2024, RLUSD has achieved a market capitalization exceeding $1.7 billion, positioning it among the largest dollar-backed stablecoins. Institutional adoption is growing, with recent developments including partnerships with Turkish exchanges BiLira, Bitexen, and Bitlo to introduce RLUSD to the Turkish crypto market. Furthermore, Mastercard has implemented 24/7 settlement capabilities using RLUSD on the XRP Ledger, and Ripple-backed Evernorth Holdings plans to utilize RLUSD in an XRP-focused treasury business for institutional DeFi and tokenized real-world assets. RippleX, the XRPL developer team, highlights that the increasing adoption of RLUSD across smart contract networks signifies a growing demand for regulated stablecoins within decentralized finance. They also note that XRP can complement RLUSD by providing liquidity, settlement, collateral, and payment functionalities across these chains.