Ripple’s RLUSD stablecoin is now available in the Cardano ecosystem through Wanchain cross-chain bridge integration. The development comes amid Cardano ecosystem’s plans to integrate more stablecoins on the network, while Ripple is also looking to expand its stablecoin beyond the XRP Ledger (XRPL) and Ethereum.
Ripple’s RLUSD coin is now available on the Cardano network
in Share XWanchain revealed that its cross-chain bridge now supports the RLUSD stablecoin. Through the integration, users will be able to directly link the stablecoin from the XRPL network to the Cardano network. Moreover, they can link the stablecoin Ethereum to Cardano.
Additionally, users can bridge the Ripple RLUSD stablecoin on XRPL or Ethereum to Wanchain and then route it from the bridge to the Cardano network. The bridge also enables bridging from XRPL to First layer networkEthereum.
It should be noted that RLUSD is currently only issued locally on the XRPL and Ethereum networks. However, last year, Ripple announced plans to expand the stablecoin to Ethereum’s layer 2 networks, including Base, Optimism, Unchain, and Ink. The company also indicated that testing on these chains will begin in partnership with Wormhole.
RLUSD currently ranks as the eighth largest stablecoin, with a market capitalization of $1.5 billion. Most of the stablecoin supply is currently on the Ethereum network, while 382 million tokens are in circulation on the XRP Ledger.
Strengthening the Cardano ecosystem
Ripple’s RLUSD becomes the second tier-1 stablecoin available to Cardano users, next Launch USDC on the network Earlier this year. It is worth noting that the market cap of Cardano’s stablecoin rose to $50 million after the launch of USDC.
The network’s DeFi TVL also rose when USDC was launched on the network and could rise again, as network users now have access to RLUSD through the cross-chain bridge. Interestingly, Cardano founder, Charles Hoskinson, has long teased plans to integrate RLUSD natively into the network, although that has not happened yet.
Meanwhile, amid RLUSD gaining access to the Cardano ecosystem, Cardano Input Output stakeholders submitted nine proposals in an attempt to scale the network. Notably, none of them focused on stablecoin integration, with the focus being on the Leios upgrade, which the developers aim to use to scale the network to 27 million monthly transactions by 2030.
