Ripple has partnered with London-based financial-infrastructure firm OpenPayd to integrate real-time euro and pound payment rails into Ripple Payments and provide direct mint-and-burn capabilities for Ripple USD (RLUSD), the company’s dollar-backed stablecoin
Ripple has partnered with London-based financial-infrastructure firm OpenPayd to integrate real-time euro and pound payment rails into Ripple Payments and provide direct mint-and-burn capabilities for Ripple USD (RLUSD), the company’s dollar-backed stablecoin. The tie-up allows enterprises to move instantly between fiat and the blockchain asset using OpenPayd’s multi-currency accounts, virtual IBANs and single-API access, widening Ripple’s cross-border payment offering.
RLUSD, issued on both the XRP Ledger and Ethereum, is positioned as an enterprise-grade stablecoin backed 1:1 with U.S. dollars. The token’s market capitalisation stood at about $440 million in June, while Ripple Payments claims coverage of more than 90 payout markets—representing over 90 % of global daily FX turnover—and says it has processed some $70 billion in volume to date.
Institutional uptake is gathering pace. Zurich-based Amina Bank on 3 July became the first regulated bank to list, custody and trade RLUSD for institutional clients, and crypto-derivatives platform BitMEX has begun accepting the stablecoin as collateral for margin trading.
Ripple is also pursuing deeper regulatory footing in the United States, having applied for both an Office of the Comptroller of the Currency trust charter and a Federal Reserve master account through its Standard Custody subsidiary. Approval would give the company direct access to the Fed’s payment system and strengthen the compliance profile of its growing stablecoin business.
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