Squid adds Ripple's RLUSD stablecoin for cross-chain swaps
Squid, a cross-chain infrastructure platform, has integrated Ripple's RLUSD stablecoin, allowing users to swap into and out of RLUSD across blockchains and digital assets "in a single transaction."
Squid said the integration connects RLUSD to more than 100 blockchains and over 20,000 supported tokens through its routing layer. Users can swap assets such as USDC, USDT, ETH, and XRP directly into RLUSD without manually bridging assets, wrapping tokens, or completing multiple transactions.
Ripple issues RLUSD natively on the XRP Ledger and Ethereum, while Wormhole's Native Token Transfer (NTT) standard extends the stablecoin to additional Ethereum layer 2 networks, including the XRPL EVM Sidechain, Optimism, Base, Ink, and Unichain. Squid said its integration sits above those underlying transfer mechanisms, enabling users to swap into and out of RLUSD regardless of how the token is issued on a particular chain.
"We allow fast, cheap movement via intents and swaps to and from any coin across all supported chains," Squid's pseudonymous co-founder Fig told The Block. "We are also developing payment widgets and SDKs [software development kits] for payments and trading that will be used by Ripple developers and partners."
Instead of relying on manual bridging, Squid uses an intent-based routing system where market makers fulfill orders using pooled liquidity on the destination chain, Fig said. According to them, this allows swaps to settle within seconds while remaining compatible with multiple cross-chain messaging and issuance standards.
RLUSD is available to end users through Squid's frontend application and to developers through its tools, allowing businesses to integrate cross-chain functionality for payments, treasury management, onboarding, and settlement.
Expanding RLUSD's use cases
Squid said the integration enables several new use cases for RLUSD, including cross-chain payments, access to decentralized finance and tokenized real-world asset platforms, automated and agentic payments, and enterprise stablecoin on- and off-ramps.
Squid said the integration is already being used or integrated across the XRP ecosystem by projects including money market protocol Strobe, payments platform Girin, wallet providers D'CENT and Ondex, token launchpad Risepad, engagement platform OnchainGM, and AhnLab Blockchain Company, which is integrating Squid into its wallet-as-a-service offering.
"As demand for RLUSD grows, it needs to move freely across the ecosystems where activity is happening. Squid handles that routing layer, which opens up a lot for payments, DeFi and treasury use cases," Lauren Berta, stablecoin product lead at Ripple, said in a statement.
Launched in December 2024, RLUSD currently has a market capitalization of about $1.6 billion.
Ripple is a backer of Squid. The cross-chain platform was initially incubated within the Axelar ecosystem and has since grown into an independent company. Last month, Squid raised $6 million from investors including Ripple, North Island Ventures, Borderless, and Axelar co-founder and former director Georgios Vlachos, bringing its total funding to $13.5 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The AI boom may follow the path of the 19th-century railway bubble, and builders may not be the ultimate winners
Goldman Sachs analyst Bobby Molavi compared the current situation to the 19th-century British railway mania: 500 companies spent more than the nation's annual income building 8,000 miles of railway, with most early investors losing out, while the real beneficiaries were the later "passengers." He pointed out that the current AI craze is driven by both debt and momentum, and that the S&P 500’s forward P/E ratio of 18x is only "a bit cheaper." Whether the builders can retain value is uncertain, and history does not offer an optimistic answer.
If Anthropic's IPO goes smoothly and the stock price rises next week, then everything remains the same for AI. Otherwise, some companies will go bankrupt.
The shrinking valuations of two major giants have triggered a chain reaction—investors are adopting more conservative revenue multiples for AI startups and are directly halting high-valuation financing for companies with zero revenue. Multiple venture capital firms have advised their portfolio companies to lower valuation expectations and to quickly build up cash reserves. Market participants warn that the outcome of Anthropic’s IPO will be a barometer for the industry: if successful, the boom will continue; if it fails, some companies may face elimination.
After the Brazilian election, political discount deepens; Morgan Stanley remains bullish on Petrobras (PBR.US), focusing on fuel pricing and dividends
Morgan Stanley still maintains its most optimistic "Overweight" rating, but has lowered its year-end 2027 target price from $31 to $25.
Corning (GLW.US) receives initial "Buy" rating from Jefferies! AI factories driving a fiber optic rush, with a potential global supply gap of up to 30%
For Corning, the recent profit growth mainly comes from the expansion of AI clusters. As the number of optical links crossing cabinets and campuses increases, customers need to deploy more optical fibers within limited conduit and cabinet space, thus driving demand for high-density optical cables and connection systems.
Crypto prices
More
