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Ripple integrates stablecoin into cross-border payments platform

Ripple has integrated its recently-launched stablecoin into its flagship cross-border payments system.

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Ripple integrates stablecoin into cross-border payments platform

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Launched in December, the enterprise-grade, USD-denominated RLUSD stablecoin is already nearing $250 million in market capitalisation and $10 billion in trading.

“We're seeing the market cap continue to grow, outpacing our internal projections. In short order, RLUSD is being used for a number of use cases, including use as collateral in both crypto and tradfi trading markets," says Jack McDonald, SVP, stablecoins, Ripple.

Now, the company has enabled RLUSD cross-border payments in Ripple Payments. Ripple claims that, unlike many stablecoins, which are designed for retail use, RLUSD has built-in global enterprise utility to improve the speed and efficiency of cross-border payments.

The stablecoin is already being used in the payment flow with select customers, including cross-border payment providers BKK Forex and iSend to improve their treasury operations.

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