Ripple Labs is testing its US dollar-backed stablecoin RLUSD across multiple Ethereum layer-2 blockchains, marking a major step in its multichain strategy.
The pilot will see RLUSD operate on Optimism, Base, Ink (Kraken’s Ethereum layer 2), and Unichain, following the token’s initial launch on the XRP Ledger and Ethereum in 2024.
The initiative comes as Ripple seeks regulatory approval for a broader rollout of RLUSD next year. The pilot is being conducted in partnership with Wormhole, a cross-chain interoperability protocol that enables assets to move seamlessly between different blockchains.
“RLUSD’s expansion to additional blockchains is essential for a scalable, efficient, and interoperable future,” Ripple said in a statement on Monday.
The company emphasized that as blockchain networks increasingly target real-world applications, the demand for regulated stablecoins is stronger than ever.
“The future of crypto is undeniably multichain. To truly serve both institutional finance and the growing on-chain economy, stablecoins must exist wherever demand and utility are.”
Moving RLUSD natively, not wrapped
One of the standout features of the pilot is the use of Wormhole’s Native Token Transfers (NTT) standard. Unlike some multichain arrangements where a token is locked on its original chain and a wrapped version is minted elsewhere, NTT allows RLUSD to exist natively on each blockchain.
“This eliminates fragmented liquidity and the need for wrapped assets, allowing a single, canonical version of RLUSD to operate across chains with Ripple retaining ownership of the contracts,” the Wormhole team explained.
The approach aims to maintain liquidity and simplify multichain token management, making it more practical for both institutional and retail participants.
Future chain expansion and regulatory oversight
Ripple has indicated that RLUSD will expand to additional chains next year, contingent on final regulatory approval. The stablecoin is issued under the New York Department of Financial Services Trust Company Charter. Ripple has also applied for a federal trust bank charter from the Office of the Comptroller of the Currency, seeking broader federal oversight.
Jack McDonald, Ripple’s senior vice president of stablecoins, described stablecoins as the “gateway to DeFi and institutional adoption,” highlighting their role in connecting traditional finance with on-chain ecosystems.
RLUSD adoption and market context
Since its launch in December 2024, RLUSD has grown to a market capitalization of $1.3 billion, according to CoinGecko. While it is significantly smaller than top stablecoins Tether’s USDT at $186 billion and Circle’s USDC at $78 billion RLUSD is carving out a niche, particularly among retail users.
💸 @Ripple's $1.3b stablecoin, $RLUSD, has adopted Wormhole's NTT standard to expand multichain.
— Wormhole (@wormhole) December 15, 2025
This integration will enable the issuance of $RLUSD across all of crypto, starting with @Base, @Optimism, @InkOnchain & @Unichain.
NTT is the standard for multichain asset issuance. pic.twitter.com/L15KpB1jbt
Integration with platforms such as Transak and support for self-custodial wallets like Xaman has contributed to its adoption.
Ripple’s approach emphasizes both regulatory compliance and practical utility, positioning RLUSD as a credible option for users seeking a multichain, fully backed stablecoin.
The multichain vision
Ripple’s multichain push reflects a broader industry trend. Many blockchain projects are seeking interoperability solutions that allow tokens to move fluidly between chains, reducing friction for developers and users alike. By piloting RLUSD on multiple Ethereum layer-2s and using native token transfers, Ripple is testing a model that could support larger-scale adoption without relying on synthetic or wrapped assets.
With the pilot underway, all eyes will be on regulatory outcomes and how quickly RLUSD can expand beyond its initial pilot chains.
The combination of regulatory oversight, multichain functionality, and institutional-ready features positions RLUSD as a stablecoin to watch in 2025 and beyond.
Kristian Koch
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