Ripple has upgraded its Ripple Payments platform to support a full stablecoin workflow spanning collection, custody, conversion and payout, as it deepens its push into institutional cross-border settlement.
The San Francisco-based fintech said the move aims to reduce reliance on pre-funded accounts and correspondent banking networks, which can tie up capital and slow international transfers.
Ripple Payments now operates in more than 60 markets and has processed over $100 billion in transaction volume, with participants including Switzerland’s AMINA Bank, Brazil’s Banco Genial, Malaysia’s ECIB and the Philippines-based AltPayNet.
The expansion builds on Ripple’s acquisition of custody and treasury automation firm Palisade and its $200 million purchase of Rail last August, strengthening its ability to manage fiat and stablecoin flows within a single stack.
Ripple’s dollar-pegged stablecoin, Ripple USD, has reached a circulating supply of about $1.5 billion, positioning it as a small but growing player in the global stablecoin market.
In December, the Office of the Comptroller of the Currency conditionally approved national trust bank charters for Ripple’s planned Ripple National Trust Bank and other crypto firms, potentially enabling federally supervised management of stablecoin reserves.
The upgrade comes amid ongoing US legislative discussions on crypto market structure, with Ripple chief legal officer Stuart Alderoty participating in White House talks on stablecoin regulation, underscoring the firm’s strategy to align institutional expansion with emerging regulatory frameworks.