Ripple to Expand $1.3 Billion RLUSD Stablecoin to Ethereum Layer-2 Networks

Core Insights - Ripple is expanding its RLUSD stablecoin to layer-2 networks on Ethereum, including Optimism, Coinbase's Base, Kraken's Ink, and Uniswap's Unichain, with the integration involving the interoperability protocol Wormhole [1][2] - The company emphasizes that stablecoins are essential for DeFi and institutional adoption, aiming to set a standard for compliance and on-chain efficiency [2] - The XRP Ledger has launched an Ethereum-compatible network, which has seen limited trading volume of $80 over the past week, hosting eight projects including decentralized exchanges and an NFT marketplace [2] Trading Volume and Market Activity - RLUSD generated $32 million in trading volume over the past day, with significant activity on the Bullish exchange, which accounted for $24 million of that volume [3][4] - The presence of RLUSD is also noted on Kraken and Bitstamp, indicating a diversified trading strategy [4] Regulatory and Market Context - Ripple's CEO highlighted the company's conditional approval for a national trust banking charter, which is seen as a significant advancement for the stablecoin, valued at $1.3 billion [5] - The approval from the Office of the Comptroller of the Currency for other stablecoin issuers like Paxos and Circle indicates a competitive regulatory environment [6]