Key facts
- Cross River Bank and Ripple partner to integrate RLUSD on XRP Ledger.
Cross River Bank will integrate Ripple's RLUSD stablecoin into its core banking infrastructure via the XRP Ledger. The partnership aims to provide fintech companies with blockchain payments, cross-border transfers, and settlement services through a single platform.
The partnership between Cross River Bank and Ripple aims to bridge traditional banking infrastructure with stablecoin technology, potentially streamlining payments and cross-border transactions for fintech companies and institutional investors.
Cross River Bank has partnered with Ripple to integrate its RLUSD stablecoin into its core banking infrastructure through the XRP Ledger. This collaboration aims to provide fintech companies with access to blockchain payments, cross-border transfers, and settlement services through a single banking platform. The integration will allow businesses to transfer money between USD and RLUSD without needing multiple blockchain systems, supporting ACH transfers, wire payments, and real-time settlement via a single API. International payments and treasury transfers outside banking hours will also be facilitated. Ripple's RLUSD has surpassed $2.5 billion in market capitalization, with over $1 billion issued on the XRP Ledger, which processes transactions in three to five seconds for fractions of a cent. Standard Chartered has also launched custody services for RLUSD, enabling qualified institutional buyers to acquire it.
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