Ripple Expands Payments Platform with Full Stablecoin Workflow
Ripple has expanded its global payments platform to support a complete stablecoin workflow, covering collection, custody, conversion, and payout.
The upgraded Ripple Payments platform aims to reduce reliance on pre-funded accounts and correspondent banking networks, which can lock up capital and add delays to international transfers.
The platform operates in over 60 markets and has processed more than $100 billion in transaction volume. Participants include Switzerland's AMINA Bank, Brazil's Banco Genial, Malaysia's ECIB, and Philippines-based AltPayNet.
Ripple made the expansion possible through two acquisitions: Palisade, a custody and treasury automation company, and Rail, a platform enabling customers to hold and exchange fiat and stablecoins. RLUSD, Ripple's dollar-pegged stablecoin, has a circulating supply of approximately $1.5 billion.