Ripple Expands Institutional Stablecoin Payments Platform
Ripple upgraded its Payments platform to support a broader stablecoin workflow for banks and fintechs, aiming to speed up cross-border transactions.Summary
Ripple has upgraded its global payments platform, Ripple Payments, to support a comprehensive stablecoin workflow encompassing collection, custody, conversion, and payout for financial institutions. This expansion is designed to reduce the reliance on pre-funded accounts and traditional correspondent banking, thereby speeding up cross-border transactions and minimizing the need to park capital overseas. The platform is currently active in over 60 markets and has processed more than $100 billion in volume. This enhancement builds upon Ripple's recent acquisitions, including Rail, a platform for holding and exchanging fiat and stablecoins. Furthermore, Ripple is deepening its institutional focus alongside the growth of its dollar-pegged token, Ripple USD (RLUSD), which has a circulating supply of about $1.5 billion. This expansion occurs amidst regulatory developments, including the conditional approval for Ripple’s planned national trust bank charter by the US Office of the Comptroller of the Currency.
(Source：Cointelegraph)