Hassan Maishera
TL;DR
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Squid has added support for Ripple’s RLUSD stablecoin.
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Users can now swap RLUSD across 100+ blockchains and 20,000+ assets.
RLUSD Gains Broader Cross-Chain Reach Through Squid Integration
Cross-chain infrastructure platform Squid has integrated Ripple’s RLUSD stablecoin, enabling users to swap into and out of RLUSD across more than 100 blockchains and over 20,000 digital assets through a single transaction.
The integration is designed to simplify access to RLUSD by eliminating the need for manual bridging, token wrapping, or multiple cross-chain transactions. Users can now convert assets such as USDC, USDT, ETH, and XRP directly into RLUSD through Squid’s routing network.
The move significantly expands RLUSD’s accessibility as Ripple seeks to grow adoption of its dollar-backed stablecoin across decentralized finance, payments, and enterprise applications.
Ripple issues RLUSD natively on both the XRP Ledger and Ethereum networks. Through Wormhole’s Native Token Transfer (NTT) standard, the stablecoin has also been extended to several Ethereum Layer 2 ecosystems, including XRPL EVM Sidechain, Optimism, Base, Ink, and Unichain.
Squid’s integration operates above these transfer frameworks, allowing users to seamlessly move into and out of RLUSD regardless of how the asset is issued on a particular blockchain.
By abstracting away the complexities of cross-chain transfers, the platform aims to create a smoother user experience for both retail and institutional participants.
Intent-Based Routing Eliminates Manual Bridging
Unlike traditional bridge-based solutions, Squid utilizes an intent-based routing system. Under this model, market makers fulfill transactions using liquidity available on destination chains, enabling users to execute cross-chain swaps without manually moving assets between networks.
According to Squid co-founder Fig, the system allows transactions to settle within seconds while remaining compatible with multiple cross-chain messaging and token issuance standards.
The company is also developing payment widgets and software development kits (SDKs) designed to support Ripple developers and ecosystem partners building payment and trading applications.
The integration opens the door to a broader range of RLUSD applications across the blockchain ecosystem.
Potential use cases include cross-chain payments, decentralized finance (DeFi) participation, tokenized real-world asset (RWA) platforms, treasury and liquidity management, automated and AI-driven payments, enterprise stablecoin on-ramps and off-ramps, and settlement infrastructure
Businesses and developers can access RLUSD through Squid’s frontend interface or integrate the functionality directly into their own applications using the platform’s development tools.
Adoption Expands Across the XRP Ecosystem
Several projects within the XRP ecosystem have already integrated or are actively implementing Squid’s infrastructure.
These include Strobe, Girin, D’CENT, Ondex, Risepad, OnchainGM, and AhnLab Blockchain Company
AhnLab Blockchain Company is incorporating Squid’s technology into its wallet-as-a-service platform, highlighting growing enterprise interest in cross-chain stablecoin functionality.
Ripple executives view interoperability as a critical component of RLUSD’s long-term growth strategy.
“As demand for RLUSD grows, it needs to move freely across the ecosystems where activity is happening,” said Lauren Berta, Ripple’s stablecoin product lead. “Squid handles that routing layer, which opens up a lot for payments, DeFi and treasury use cases.”
The integration comes as Ripple continues to expand the utility of RLUSD beyond its native networks and position the stablecoin for broader adoption across blockchain ecosystems.
RLUSD Market Cap Reaches $1.6 Billion
Launched in December 2024, RLUSD has grown into an emerging stablecoin in the digital asset sector.
The token currently carries a market capitalization of approximately $1.6 billion, reflecting increasing adoption among users and institutions seeking dollar-backed blockchain settlement solutions.
The RLUSD integration follows a period of rapid growth for Squid. Originally incubated within the Axelar ecosystem, the platform has since evolved into an independent company focused on cross-chain infrastructure and interoperability.
Last month, Squid raised $6 million in fresh funding from investors including Ripple, North Island Ventures, Borderless, and Axelar co-founder Georgios Vlachos. The round brought the company’s total funding to $13.5 million.
