Ripple taps Wormhole to expand RLUSD to Layer 2 chains like Base and Optimism
Ripple is partnering with Wormhole to launch its RLUSD stablecoin on Layer 2 chains, including Base and Optimism, next year.Summary
Ripple announced plans to expand its RLUSD stablecoin to Layer 2 blockchains, such as Optimism and Base, starting next year, leveraging Wormhole and its Native Token Transfers (NTT) standard for testing on these networks. RLUSD, which already exists on XRP Ledger (XRPL) and Ethereum, has a total supply exceeding $1 billion. Jack McDonald, Ripple’s SVP of stablecoins, stated this move expands utility and sets a standard for compliance and efficiency on L2s. This collaboration follows a previous integration between Ripple and Wormhole to enhance XRPL's multichain interoperability. Furthermore, Ripple is pursuing regulatory certainty, having recently received conditional approval for a national trust bank charter from the OCC, which, if finalized, would subject RLUSD to dual state and Federal oversight.
(Source：The Block)