Ripple has teamed up with London-based fintech OpenPayd to develop a stablecoin and payments infrastructure aimed at enabling faster and cheaper cross-border transactions for businesses.
This announcement coincides with Ripple’s application for a national banking license from the Office of the Comptroller of the Currency (OCC). Obtaining this license would allow Ripple to extend its crypto services nationwide under federal oversight.
A major focus of the partnership is supporting Ripple USD (RLUSD), Ripple’s U.S. dollar stablecoin. OpenPayd will facilitate direct minting and burning of RLUSD, streamlining processes.
The collaboration is designed to ease cross-border payments, treasury management, and dollar liquidity challenges.
“The future of global finance depends on seamless interoperability between traditional infrastructure and digital assets,” said Jack McDonald, Ripple’s SVP of stablecoins. He added that the partnership provides enterprises with reliable access to RLUSD, combining expected stability and compliance with essential connectivity.
Ripple Payments processes over $70 billion annually across more than 90 payout markets, highlighting the company’s extensive payment network.
This development follows Ripple CEO Brad Garlinghouse’s announcement of dropping the company’s cross-appeal against the U.S. Securities and Exchange Commission, ending a year-long legal dispute.