Ripple Labs says institutions can settle transactions using crypto, stablecoins and fiat on a single platform as it expands services around the XRP Ledger ecosystem.
The company’s managing director for the Middle East and Africa, Reece Merrick, said financial institutions can use XRP and RLUSD alongside traditional currencies as Ripple integrates payments, custody and settlement infrastructure under one platform.
“Ripple Labs is the ultimate one-stop shop for payment settlements by institutions,”
Said Merrick.
Ripple was founded in 2012 as OpenCoin and helped launch the XRP Ledger the same year, though the blockchain now operates as an open-source network supported by independent validators.
XRP, the network’s native token, is currently the world’s fifth-largest cryptocurrency with a market capitalisation of about $85 billion.
Ripple also introduced RLUSD in December 2024 as a US dollar-pegged stablecoin designed to facilitate payments and digital asset settlement across financial networks.
The company says it has processed more than $100 billion in payments and now operates across more than 60 markets with access to 51 real-time financial rails.
Traditionally, institutions rely on separate providers for fiat transfers, crypto transactions and digital asset custody, but Ripple aims to combine these services into a single platform for banks and financial institutions.
At the time of reporting, XRP price was $1.39.