TheBlock
Squid has integrated Ripple's RLUSD stablecoin into its cross-chain routing layer, letting users swap into and out of RLUSD across more than 100 blockchains and 20,000 supported tokens in a single transaction. The integration sits above the underlying transfer mechanisms — RLUSD's native issuance on the XRP Ledger and Ethereum, plus Wormhole's Native Token Transfer standard extending it to L2s like Base, Optimism, Ink, and Unichain — so users no longer need to manually bridge, wrap, or sign multiple transactions to reach the stablecoin.
Squid uses an intent-based routing system in which market makers fulfill orders from pooled liquidity on the destination chain, settling swaps in seconds. "We allow fast, cheap movement via intents and swaps to and from any coin across all supported chains," said Fig, Squid's pseudonymous co-founder. The company is also building payment widgets and SDKs that Ripple developers and partners will plug into.
Why it matters
RLUSD has scaled to roughly $1.6 billion in market capitalization since its December 2024 launch, but its reach has been gated by where it is natively issued and bridged. Squid's routing layer abstracts that fragmentation — a user can now move from USDC, USDT, ETH, or XRP directly into RLUSD on the chain where it's most useful, with the swap itself handling the cross-chain hop.
The integration is also a deepening of an existing relationship: Ripple was part of the $6 million round Squid closed last month alongside North Island Ventures, Borderless, and Axelar co-founder Georgios Vlachos, bringing the cross-chain platform's total funding to $13.5 million. RLUSD product lead Lauren Berta framed the move as opening payments, DeFi, and treasury use cases for the stablecoin as demand grows.
Market impact
Squid said the integration is already live or in progress across the XRP ecosystem — Strobe, Girin, D'CENT, Ondex, Risepad, OnchainGM, and AhnLab Blockchain Company are building on it, with AhnLab wiring Squid into a wallet-as-a-service offering.
Frequently asked questions
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What does the Squid–RLUSD integration actually do?
It lets users swap any of 20,000+ supported tokens on 100+ blockchains into and out of Ripple's RLUSD stablecoin in a single transaction, using Squid's intent-based router instead of manual bridging or wrapping.
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How does Squid route cross-chain swaps?
Squid uses an intent-based routing system where market makers fulfill orders from pooled liquidity on the destination chain. Swaps settle in seconds and sit above the underlying transfer standards — native issuance on XRPL and Ethereum, plus Wormhole NTT on L2s like Base, Optimism, Ink, and Unichain.
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How big is RLUSD right now?
RLUSD launched in December 2024 and has a market capitalization of roughly $1.6 billion, per The Block's RLUSD price page.
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What's the relationship between Squid and Ripple?
Ripple is a backer of Squid. Ripple participated in a $6 million round Squid closed last month alongside North Island Ventures, Borderless, and Axelar co-founder Georgios Vlachos, bringing Squid's total funding to $13.5 million.
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Which projects are already building on the integration?
Squid says the integration is already live or in progress across the XRP ecosystem with Strobe, Girin, D'CENT, Ondex, Risepad, OnchainGM, and AhnLab Blockchain Company, which is wiring Squid into a wallet-as-a-service offering.
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