Latest news with #BhanuKohli
Yahoo
3 days ago
- Business
- Yahoo
Ripple to buy stablecoin payments firm Rail for $200m
Cryptocurrency firm Ripple has reached an agreement to acquire the stablecoin payments platform Rail for $200m. The deal will allow Ripple to enhance its offerings by integrating Rail's stablecoin-focused payment infrastructure, including virtual accounts and automated systems for back-office operations. Rail's platform serves as a bridge between conventional fiat currency systems and stablecoin technology, providing a range of payment solutions. These include the provision of virtual IBANs, named accounts, and the facilitation of USD Rails and third-party payments for financial entities such as fintechs, neobanks, and enterprise organisations. Ripple Payments is known for its network for payouts, access to digital asset liquidity, and a set of licences for compliant payment processing. The combined capabilities of both companies will allow for the handling of diverse payment types and the management of internal treasury operations through a single integrated platform. Additionally, it supports payments in a variety of digital assets, including RLUS, XRP, and others. Customers can transact without the need for specialised cryptocurrency bank accounts or the use of wallets on centralised exchanges. The acquisition, which is contingent upon customary closing conditions and regulatory approvals, is expected to be completed in the fourth quarter of 2025. Rail CEO Bhanu Kohli stated: 'Over the last four years, Rail built the fastest way to settle business payments internationally using stablecoins, and in 2025, Rail is forecasted to process over 10% of the $36bn global B2B stablecoin payments. 'Ripple shares our vision, and together, we're excited to bring our innovation to the millions of businesses that move money internationally.' Ripple president Monica Long said: "Stablecoins are quickly becoming a cornerstone of modern finance, and with Rail, we are uniquely positioned to drive the next phase of innovation and adoption of stablecoins and blockchain in global payments. 'Ripple has one of the most widely used digital asset payment networks in the world, and this acquisition underscores our commitment to helping our global customer base to move money wherever and whenever they need.' Last month, Ripple partnered with OpenPayd to improve payment solutions for enterprise clients by incorporating the latter's global fiat infrastructure into Ripple's network. "Ripple to buy stablecoin payments firm Rail for $200m" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
4 days ago
- Business
- Yahoo
Ripple acquires new surprising stablecoin platform
Ripple acquires new surprising stablecoin platform originally appeared on TheStreet. Ripple has agreed to acquire Rail, a stablecoin platform for global payments, for $200 million, the crypto payments firm said on Aug. 7. The fintech firm is one of the leading players in the global stablecoin market that issues RLUSD, a stablecoin pegged 1:1 to the U.S. dollar. 'Stablecoins are quickly becoming a cornerstone of modern finance, and with Rail, we are uniquely positioned to drive the next phase of innovation and adoption of stablecoins and blockchain in global payments,' said Ripple President Monica by Galaxy Ventures and Accomplice, Toronto-based Rail has partnered with more than 12 banks to offer seamless service to its clients. Rail CEO Bhanu Kohli said, 'Over the last four years, Rail built the fastest way to settle business payments internationally using stablecoins, and in 2025, Rail is forecasted to process over 10% of the $36B global B2B stablecoin payments. Ripple shares our vision, and together, we're excited to bring our innovation to the millions of businesses that move money internationally.' Ripple launched RLUSD in December 2024, and President Donald Trump signed the GENIUS Act into law in mid-July 2025 in order to regulate USD-pegged stablecoins and consolidate the global dominance of the U.S. dollar. With a market cap of $612 million, RLUSD doesn't account for even 1% of the total stablecoin market that is worth nearly $270 billion at the time of writing. Expected to close in the fourth quarter of 2025, the deal would pave the way for Ripple to penetrate the stablecoin market further. Ripple acquires new surprising stablecoin platform first appeared on TheStreet on Aug 7, 2025 This story was originally reported by TheStreet on Aug 7, 2025, where it first appeared.
