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ETH 
RLUSD Ripple is currently testing the RLUSD token on Layer 2 networks such as Optimism, Base, Ink, and Unichain. This token was initially launched on the XRP Ledger and Ethereum in 2024. Ripple Labs is expanding this stablecoin, RLUSD, to the Ethereum Layer 2 blockchain as a pilot project. They are waiting for regulatory approval before launching it fully next year.
Ripple announced in a statement on Monday that this pilot project will work together with the cross-chain interoperability protocol Wormhole to test the RLUSD token on Optimism, Base, Ink (an Ethereum Layer 2 network developed by Kraken), and Unichain. Wormhole enables the transfer of assets between different blockchains.
Initially, RLUSD was issued on the XRP Ledger and Ethereum. However, Ripple stated that this expansion is “essential for a scalable, efficient, and interoperable future.”
“The future of cryptocurrencies is undoubtedly multi-chain. To truly serve institutional finance and the growing on-chain economy, stablecoins must exist where they are needed and have practical value.”
Source: Ripple
“As blockchain technology continues to evolve to meet real-world applications, there is a greater demand for highly regulated stablecoins than ever before,” added Ripple’s team.
RLUSD will avoid using wrapped copies across blockchains.
The Wormhole team posted on the X Forum on Monday, stating that their native token transfer standard will allow RLUSD to be transferred between blockchains as a genuine token, rather than as synthetic or wrapped copies. This will help maintain liquidity.
In some multi-chain setups, when tokens are transferred, they remain locked on their original blockchain, while a replica of the token is created on another blockchain.
Source: Wormhole
The Wormhole team added, “With NTT, token issuers can have a single, standardized version of RLUSD available on every blockchain, without having to manage separate liquidity or packaging processes. Ripple owns these contracts.”
More stores will open next year
Ripple stated that RLUSD will be launched on subsequent chains next year, but its launch still requires approval from regulatory authorities.
RLUSD is issued in accordance with the trust company’s bylaws under the New York State Financial Services Department. The company has also applied for federal trust bank status, thereby gaining additional regulatory oversight.
Jack McDonald, senior vice president of Ripple’s stablecoin division, said that stablecoins are “the gateway to DeFi and institutional adoption.”
“By launching RLUSD—the first stablecoin regulated by US trusts on these L2 networks—we not only expand its uses, but we also set a standard for integrating compliance with efficiency within the blockchain.”
RLUSD has a market value of $1.3 billion
According to data from cryptocurrency aggregator CoinGecko, RLUSD was launched in December 2024, with a market value of $1.3 billion.
相比之下，市值最高的稳定币是Tether的USDT，市值为1860亿美元;Circle的USDC市值为780亿美元;Sky Protocol的USDS位列第三，市值为98亿美元。
RLUSD已在零售用户中获得了广泛关注，特别是通过与Transak等平台的集成，以及在Xaman等自托管钱包中日益增长的采用率。
