Ripple is pushing its US dollar–backed stablecoin RLUSD deeper into the Ethereum ecosystem, launching a pilot program across several layer-2 networks as it prepares for a broader, regulated rollout in 2026.
The company said it is testing RLUSD on Optimism, Base, Ink and Unichain in partnership with crosschain interoperability provider Wormhole. The move follows RLUSD’s initial launch on the XRP Ledger and Ethereum in 2024 and reflects Ripple’s view that stablecoins must operate seamlessly across multiple networks to meet real-world demand.
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Ripple said the pilot is designed to ensure RLUSD can scale efficiently while remaining interoperable across blockchains, particularly as institutional and onchain use cases continue to grow.
Source: Ripple
Ripple opts for native crosschain transfers
Rather than relying on wrapped or synthetic versions of the token, RLUSD will move between blockchains using Wormhole’s Native Token Transfers standard. This approach allows the stablecoin to exist as a canonical, native asset on each supported chain, helping to preserve liquidity and reduce fragmentation.
In traditional multichain setups, tokens are often locked on one network while a wrapped version is minted elsewhere, creating complexity and potential risk. Wormhole said its model avoids that issue by allowing issuers to maintain direct control over token contracts across chains.
Source: Wormhole
Ripple plans further chain expansion pending approval
Ripple said additional blockchain integrations are planned for next year, subject to final regulatory approval. RLUSD is currently issued under a New York Department of Financial Services trust charter, and Ripple has also applied for a federal trust bank charter with the Office of the Comptroller of the Currency.
Jack McDonald, Ripple’s senior vice president of stablecoins, said regulated stablecoins are becoming a key entry point for both decentralized finance and institutional adoption. He added that RLUSD’s expansion onto Ethereum layer 2s is intended to combine compliance with onchain efficiency at scale.
RLUSD grows into a mid-sized stablecoin
Since launching in December 2024, RLUSD has grown to a market capitalization of roughly $1.3 billion, according to CoinGecko. While that places it well behind industry leaders such as Tether’s USDT and Circle’s USDC, the token has gained traction through integrations with fiat on-ramps like Transak and adoption across self-custodial wallets.
Ripple’s multichain strategy positions RLUSD to compete more directly in onchain payments, DeFi and institutional settlement as demand for regulated stablecoins continues to rise.