Ripple Expands $1.3B RLUSD Stablecoin to Ethereum Layer-2s via Wormhole in Multichain Push
Ripple is expanding its $1.3 billion U.S.-dollar stablecoin, RLUSD, to several Ethereum Layer-2 networks including Optimism, Base, Ink, and Unichain. This expansion marks a test phase ahead of a wider rollout planned for next year.
RLUSD is issued under a New York Department of Financial Services (NYDFS) Trust Charter, and Ripple is seeking regulatory approval from NYDFS for its public deployment. The integration employs Wormhole's Native Token Transfers standard, allowing RLUSD to move cross-chain natively without the need for wrapping.
Furthermore, Ripple has secured initial approval for a federal trust bank charter from the Office of the Comptroller of the Currency (OCC), providing enhanced regulatory oversight of RLUSD use on Layer-2 networks.
The rollout also introduces a wrapped XRP token (wXRP) to enable the use of XRP alongside RLUSD for swaps, lending, and payments on supported Layer-2 chains. This multichain expansion aims to broaden RLUSD's utility and aligns with the growth of decentralized finance (DeFi) and the adoption of regulatory-compliant stablecoins.
