Ripple to expand RLUSD stablecoin to Ethereum L2 networks

Ripple has announced it will expand its $1.3 billion RLUSD stablecoin to Ethereum Layer 2 (L2) blockchains in a strategic move to integrate it into the broader multi-chain ecosystem and decentralized finance (DeFi) infrastructure, Coindesk reported. Testing for RLUSD will begin on L2 blockchains including Optimism, Coinbase's Base, Kraken's Ink, and Uniswap's Unichain. The company is awaiting regulatory approval from the New York Department of Financial Services (NYDFS) for a full launch scheduled for next year. Ripple will utilize Wormhole's Native Token Transfers (NTT) standard to allow RLUSD to move natively between chains. Additionally, wXRP will be deployed on Ethereum L2s to facilitate easier swaps, lending, and payments alongside RLUSD.