Ripple is expanding its stablecoin payments platform for banks and fintechs, aiming to reduce the need to park money overseas and speed up cross-border transactions. The company's global payments platform, Ripple Payments, now supports a broader stablecoin workflow, including collection, custody, conversion, and payout.
This move positions Ripple to compete directly with legacy payment providers by reducing reliance on pre-funded accounts and correspondent banking networks. Ripple Payments has processed over $100 billion in transaction volume and is live in more than 60 markets. Key participants include AMINA Bank, Banco Genial, ECIB, and AltPayNet.
The expansion builds on Ripple's recent acquisitions of custody firm Palisade and the Rail platform. This growth also coincides with the increasing supply of Ripple's dollar-pegged token, Ripple USD (RLUSD), which now totals approximately $1.5 billion.
Regulatory momentum is also evident, with Ripple's planned Ripple National Trust Bank receiving conditional approval for national trust bank charters from the US Office of the Comptroller of the Currency. Ripple's chief legal officer has been actively involved in White House discussions on crypto market structure legislation.