Ripple announced a major upgrade to the Ripple Payments platform, which processed over $100 billion in transactions and operates in more than 60 key markets. The solution will be transformed into a full-fledged end-to-end platform for stablecoin and fiat operations.
FinTech company Ripple, one of the largest providers of institutional blockchain solutions, reported an expansion of the functionality of its enterprise cross-border payments platform, Ripple Payments. The updated service will enable the collection, custody, exchange, and payout of both fiat currencies and stablecoins within a single infrastructure, in compliance with regulatory requirements.
Ripple holds more than 75 global financial and money transmitter licenses (MTL). The company has Trust Company status granted by the New York State Department of Financial Services (NYDFS), allowing it to transfer funds on behalf of clients and work directly with banks and payment providers. Ripple’s activities also received preliminary approval from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) under an Electronic Money Institution (EMI) license.
The upgrade became possible following the integration of previously acquired companies Palisade, specializing in custody and treasury solutions, and Rail, which provides virtual accounts and payment acceptance tools. As a result, Ripple clients can now:
- open named virtual accounts and wallets;
- automate fund collection processes;
- convert assets;
- centrally credit funds to operational accounts.
The updated Ripple Payments also offers a managed custody model with scalable wallet issuance, accelerated transaction signing, and automatic transfers to operational balances.
According to Ripple President Monica Long, the solution represents a licensed end-to-end platform capable of supporting global movement of both fiat funds and digital assets within a regulated environment. In her view, demand for such infrastructure is being driven by the rapid growth of institutional interest in stablecoins. According to company data, global stablecoin transaction volume reached $33 trillion last year, with their share of total on-chain operations rising to 30%. Against this backdrop, Ripple reports accelerated onboarding of FinTech companies and banks to Ripple Payments.
Among the new and existing clients of the Ripple Payments platform are:
- European bank AMINA, which uses Ripple’s infrastructure for near real-time cross-border settlements;
- Brazilian digital bank Banco Genial, which launched cross-border payouts from Brazil based on Ripple’s solution;
- Malaysian investment bank ECIB, using Ripple Payments to enhance its cross-border infrastructure;
- Philippine payment system operator AltPayNet, which integrated stablecoins into international B2B payments;
- Corpay, which leverages Ripple’s managed custody model and liquidity for instant funding and settlements in the Asia-Pacific region using RLUSD;
- payment infrastructure provider alfred, using Ripple technology to facilitate cross-border stablecoin-to-fiat conversion between the United States, China, and Latin American countries;
- infrastructure provider CambioReal, which integrated Ripple’s settlement layer into its payment management platform;
- global payout platform MassPay, planning to expand its payout model through stablecoin integration.
Ripple previously expanded the capabilities of Ripple Custody, strengthening digital asset security and adding infrastructure for institutional staking. Morevoer, a unified platform for managing traditional and digital assets, Ripple Treasury, was launched based on GTreasury.
