Ripple has extended RLUSD to multiple Ethereum Layer 2 networks via Wormhole’s Native Token Transfers (NTT) standard, enabling native issuance on Optimism, Base, Ink and Unichain.
Wormhole’s Native Token Transfers (NTT) standard enables native issuance across multiple blockchains rather than relying on wrapped or synthetic representations. By adopting NTT, Ripple implements a burn‑and‑mint model that preserves supply integrity on each L2, destroying tokens on the source chain and issuing new ones on the destination chain to maintain consistent total supply.
This architecture is designed to reduce risks associated with wrapped tokens and retain direct control over RLUSD’s on‑chain supply, improving interoperability and trust‑minimized movement. The technical choice targets lower fees and faster finality on L2s, making RLUSD more practical for high‑volume institutional flows.
RLUSD’s expansion is reinforced by strategic partnerships that underpin reserve custody, price feeds and institutional distribution. BNY Mellon is listed as reserve custodian, while Chainlink supplies decentralized oracle data for price feeds on both Ethereum and the XRP Ledger. Integration with tokenized money‑market products from BlackRock and VanEck, facilitated by Securitize, positions RLUSD as an on‑chain off‑ramp for institutional tokenized funds.
Partnerships, market traction and compliance
Ripple also supports wrapped XRP (wXRP) to ease swaps and lending interactions between XRP and RLUSD across the new chains, broadening market access for treasury and DeFi use cases.
Market indicators cited in the rollout show RLUSD rapidly approaching a $1.3 billion market capitalization and ranking as the third‑largest U.S.‑regulated stablecoin within its first year, a trajectory attributed to regulatory clarity and multichain availability. Ripple has also cultivated regional partners — including Amina Bank and multiple fintech platforms across Africa and Asia — to expand payment and remittance use‑cases beyond primary markets.
Regulatory positioning is central to Ripple’s strategy. RLUSD operates under a New York Department of Financial Services (NYDFS) trust charter, and Ripple reported an initial approval from the U.S. Office of the Comptroller of the Currency (OCC) for a federal trust bank charter last week, creating a dual layer of oversight in the U.S. International endorsements in Dubai, Abu Dhabi and an expanded Major Payment Institution license from Singapore’s MAS are presented as further support for cross‑border operations Jack McDonald, Ripple’s Senior Vice President of Stablecoin, said the rollout seeks to “set the definitive standard where compliance and onchain efficiency converge,” underscoring the firm’s regulatory focus.
Ripple’s RLUSD multichain push pairs Wormhole NTT technical design with institutional partnerships and layered regulatory approvals to enhance liquidity and enterprise use.
