- Ripple has expanded its Ripple Payments platform to offer an end-to-end stablecoin workflow for banks and fintechs.
- The upgrade aims to reduce capital tied up in pre-funded overseas accounts and speed up cross-border transactions.
- The move coincides with the growth of its Ripple USD (RLUSD) stablecoin, which now has a circulating supply of about $1.5 billion.
- The company is deepening its institutional focus amid ongoing regulatory discussions in the U.S. and conditional approvals for a national trust charter.
On Tuesday, Ripple announced a major expansion of its global payments platform, Ripple Payments, to support comprehensive stablecoin services for financial institutions. This strategic upgrade is designed to streamline cross-border transactions by reducing the need for pre-funded accounts abroad.
The platform now facilitates stablecoin collection, custody, conversion, and payout. Consequently, it positions Ripple to compete more directly with legacy payment providers by mitigating reliance on traditional correspondent banking networks.
The privately held fintech, valued at $17.7 billion, has processed over $100 billion in transaction volume. Key participants in the live network include Switzerland’s AMINA Bank, Brazil’s Banco Genial, Malaysia’s ECIB, and Philippines-based AltPayNet.
This expansion builds on recent acquisitions of custody firm Palisade and the platform Rail. Ripple acquired Rail last August for $200 million to enhance its fiat and stablecoin exchange capabilities.
Meanwhile, the company’s dollar-pegged token, Ripple USD (RLUSD), continues to grow with a circulating supply of about $1.5 billion. Regulatory momentum has accompanied this growth, including conditional approval from the U.S. Office of the Comptroller of the Currency for a national trust bank charter.
This charter would allow Ripple to manage assets under federal oversight. The expansion also coincides with ongoing legislative discussions in Washington, D.C., around stablecoin regulation.
Ripple’s chief legal officer, Stuart Alderoty, attended a White House meeting in February to discuss the legislation’s stablecoin provisions. This underscores the company’s active role in shaping emerging regulatory frameworks for the industry.
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