Squid Adds RLUSD Support for Cross-Chain Swaps

Squid has integrated Ripple's RLUSD stablecoin. The integration lets users swap into and out of RLUSD in a single transaction across more than 100 blockchains and over 20,000 supported tokens. It removes the need for manual bridging, wrapping or multiple transactions when converting assets such as USDC, USDT, ETH and XRP into RLUSD.

RLUSD is issued natively on the XRP Ledger and on Ethereum. Wormhole's Native Token Transfer (NTT) standard extends RLUSD to additional Ethereum layer-2 networks, including the XRPL EVM Sidechain, Optimism, Base, Ink and Unichain. Squid's routing layer sits above those transfer standards and directs swaps regardless of how RLUSD is issued on a given chain.

The platform uses an intent-based routing system in which market makers fulfill orders using pooled liquidity on the destination chain. That design routes liquidity and matches orders on the chain where the funds will settle, which Squid says allows swaps to settle within seconds and lowers fees.

Squid's pseudonymous co-founder, Fig, described the approach: “We allow fast, cheap movement via intents and swaps to and from any coin across all supported chains.” Fig added that the company is building payment widgets and software development kits for payments and trading for use by Ripple developers and partners.

RLUSD will be available to end users through Squid's frontend application and to developers through APIs and toolkits. Squid identifies use cases including cross-chain payments, access to decentralized finance platforms and tokenized real-world asset platforms, automated payments, and enterprise on- and off-ramps.

Several projects in the XRP ecosystem are already using or integrating Squid's routing layer, 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 plans to add Squid to its wallet-as-a-service offering.

Squid was incubated within the Axelar ecosystem and later became an independent company. In May 2026 Squid raised $6 million from investors including Ripple, North Island Ventures, Borderless and Axelar co-founder Georgios Vlachos, bringing total funding to about $13.5 million. Ripple is a backer of Squid.

RLUSD launched in December 2024 and has a market capitalization of roughly $1.6 billion. Lauren Berta, stablecoin product lead at Ripple, said: “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.”