- Ripple is now accelerating its multichain goals for the Ripple USD (RLUSD) stablecoin.
- This week, the company announced the deployment of the stablecoin on a Layer-2 (L2) chain for the first time.
- Ripple says it will prioritize RLUSD rollout on chains that support XRP to reinforce both assets.
RLUSD Goes to L2
According to Ripple, it will begin testing the RLUSD on Optimism, Base, Ink, and Unichain. It forged a partnership with Wormhole, one of the world’s leading multichain interoperability protocols, for the crossover.
Ripple launched the RLUSD on December 17, 2024. The company’s subsidiary, Standard Custody Trust Company, issues the token under the XRP Ledger (XRPL) and Ethereum (ETH) blockchains. It plans to issue the asset to more L2 chains in the near future.
RLUSD’s operations in L2 will leverage Wormhole’s Native Token Transfer (NTT) standard. Ripple still maintains native issuance and control of the stablecoin, while the partnership will unlock a new level of security and flexibility for onchain liquidity across new ecosystems.
Jack McDonald, Senior Vice President of Stablecoins at Ripple and CEO of Polysign, stated that stablecoins are the gateway to decentralized finance (DeFi). They offer trust and a liquid medium for users to interact with the digital asset economy.
The Ripple executive said that launching RLUSD on L2 is not just about expanding the stablecoin’s utility. In addition, it sets a standard for the convergence of regulatory compliance and onchain efficiency.
A Year of the RLUSD Stablecoin
Following the RLUSD’s entry to L2, McDonald praised the RLUSD stablecoin on its first anniversary on Wednesday. The senior executive has highlighted how the asset went from 0 to being one of the top 5 regulated stablecoins in record time.
McDonald called 2025 the year of the stablecoin and looks forward to more developments in its ecosystem next year. This year established RLUSD as having one of the fastest climbs in the stablecoin market. It reached over $1 billion in market cap in November, even before its first anniversary, indicating its growing market demand.
One of the key features defining RLUSD and makes it well-suited for institutional adoption is its regulatory compliance. It carries a New York State Department of Financial Services (NYSDF) license, complementing Ripple’s recent conditional approval from the Office of the Comptroller of the Currency (OCC) in mid-December.
A Complement to XRP
Ripple emphasized that the L2 milestone is not just for RLUSD but also extends to the broader XRP ecosystem. After all, RLUSD on XRPL cannot operate without XRP, which it uses and burns at every transaction.
Furthermore, the company revealed that it will prioritize the issuance of RLUSD on platforms with demand for XRP and wrapped XRP (wXRP). This aims to strengthen the utility for both assets and position them as a premier trading and liquidity pair on supported chains.
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