OpenPayd, Ripple forge stablecoin payments alliance
The partnership will integrate OpenPayd's global fiat infrastructure, which includes real-time payment rails, multi-currency accounts, and virtual IBANs, into Ripple Payments, facilitating transactions in EUR and GBP.
Ripple Payments, which employs blockchain and digital assets, aims to streamline cross-border payments and provide on/off ramps for financial institutions globally.
It is also a part of the OpenPayd's stablecoin infrastructure expansion.
OpenPayd will now offer direct minting and burning of Ripple USD (RLUSD), a USD-denominated stablecoin developed by Ripple.
Enterprises can convert between fiat currencies and RLUSD while utilising OpenPayd's services, including account management, payments, and trading via a single API.
Ripple Stablecoins SVP Jack McDonald said: 'Our collaboration with OpenPayd gives enterprises reliable access to RLUSD, combining the stability and compliance they expect with the connectivity they need. This is how we accelerate real-world adoption of stablecoins at scale.'
The stablecoin RLUSD is designed to support multiple use cases such as cross-border payments, global treasury management, and access to US dollar liquidity.
The partnership aims to provide enterprises with the necessary tools to conduct and manage international monetary transactions effectively.
OpenPayd CEO Iana Dimitrova stated: 'By combining Ripple Payments with OpenPayd's rail agnostic and fully interoperable fiat infrastructure, we are delivering a unified platform that bridges traditional finance and blockchain.
'This partnership enables businesses to move and manage money globally, access stablecoin liquidity at scale, and simplify cross border payments, treasury flows and dollar-based operations.'
Last month, OpenPayd partnered with Circle, the issuer of the USDC stablecoin, to combine traditional banking systems with blockchain technology, facilitating global business transactions.
"OpenPayd, Ripple forge stablecoin payments alliance " was originally created and published by Electronic Payments International, a GlobalData owned brand.
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