Ripple’s dollar-backed stablecoin RLUSD has been opened to multiple blockchain ecosystems via Wormhole’s Native Token Transfers, or NTT standard. It was stated that with this step, RLUSD can be transferred locally on a network to which more than 40 blockchains are connected. The development coincided with Ripple’s rollout of RLUSD in Türkiye with local partners.
Wormhole integration moves RLUSD to multi-chain structure
Wormhole stated that the NTT standard is used by more than 100 entities and on more than 40 chains. It was stated that thanks to the integration, RLUSD can be moved between supported networks without the need for wrapped token versions. It was noted that this structure aims to reduce operational problems that can be caused by fragmented token versions in different networks.
Mini dictionary: Native Token Transfers is a standard aimed at moving tokens natively between chains without creating representative versions on the bridge. Wormhole is known as an interoperability infrastructure that enables message and asset transfer between different blockchains.
Wormhole stated that stablecoins used on an institutional scale have switched to a multi-chain structure with this launch, and described the system as “compatible, local and multi-chain”.
RLUSD is positioned as a dollar-backed stablecoin designed for financial use cases. Ripple aims to utilize this asset in areas such as payments, tokenization and collateral management.
Ripple emphasized that institutional demand is increasing
Jack McDonald, senior vice president of stablecoins at Ripple, said RLUSD is gaining usage in financial markets. McDonald stated that the asset serves as an important bridge for payments, tokenization and collateral management.
Jack McDonald stated that Türkiye has an important position between traditional finance and digital economy, and that the high crypto adoption in the country was effective in the expansion of RLUSD.
McDonald also stated that corporate demand is growing in different markets and that the Türkiye expansion is a turning point in Ripple’s expansion plan. It was also stated that Ripple’s goal is to offer a dollar-backed asset that is transparent and compliant with regulations, and that RLUSD can provide access to global liquidity to businesses in Türkiye.
Local platforms came to the fore in Türkiye initiative
Ripple is working with BiLira, Bitexen and Bitlo for RLUSD access in Türkiye. It was stated that this initiative came after changes made in digital asset regulations in the country. According to Chainalysis data, Türkiye’s annual transaction volume is approximately 200 billion dollars and the country is shown as the largest crypto market in the MENA region.
The news reminded that the Capital Markets Board introduced a licensing framework for crypto asset service providers in 2024. It is considered that this step supports the transition to a more regulated structure in the market.
While BiLira co-founder Sinan Koç said that their collaboration is based on regulatory integrity, Bitexen MENA Chief Executive Alphan Göğüş stated that RLUSD will meet with users through Bitexen Global. Bitlo CEO Mustafa Alpay stated that RLUSD can offer Turkish users a safer channel to access global markets.
With the latest move, RLUSD’s multi-chain transfer capability and local access channels in Türkiye have been combined within the same framework. Thus, RLUSD has become more visible in discussions around regulatory stablecoins, cross-chain liquidity, and institutional use cases.
