Ripple Unveils Expanded Payments Platform with Full Stablecoin Support
Ripple has upgraded its global payments platform to support a full stablecoin workflow, covering collection, custody, conversion, and payout. The upgraded platform is designed to reduce reliance on pre-funded accounts and correspondent banking networks, which lock up capital and add delays to international transfers.
Ripple's expansion builds on two acquisitions: Palisade, a custody and treasury automation company, and Rail, a platform enabling customers to hold and exchange fiat and stablecoins. The company purchased Rail last August for $200 million, and the two businesses now form part of the expanded service offering.
RLUSD, Ripple's dollar-pegged stablecoin, has a circulating supply of approximately $1.5 billion. The platform operates in more than 60 markets and has processed over $100 billion in transaction volume. Ripple has cited several participants in the network, including Switzerland's AMINA Bank, Brazil's Banco Genial, Malaysia's ECIB, and Philippines-based AltPayNet.