Latest news with #GalaxyVentures
Economic Times
08-08-2025
- Business
- Economic Times
Ripple to buy stablecoin platform Rail for $200 million
Ripple will buy stablecoin payments platform Rail for $200 million, the company said on Thursday, weeks after U.S. President Donald Trump signed a law that raised expectations cryptocurrency tokens are about to enter the mainstream. Ripple, a crypto company that is closely associated with the token XRP and issues its own stablecoin called RLUSD, has invested heavily in stablecoin infrastructure in recent months. The acquisition - which will close in the fourth quarter of this year pending regulatory approvals - will enable Ripple and Rail to "deliver the most comprehensive stablecoin payments solution available in the market," it said. It will also add virtual accounts and automated back-office processes to Ripple's existing payments capabilities, the company said in a release. "As regulations become more clear and the space has grown and matured, this opportunity for stablecoin payments is really ripe, and the acquisition of Rail just really solidifies our market leadership in stablecoin payments," said Monica Long, president of Ripple in an interview. Toronto-based Rail, backed by Galaxy Ventures and Accomplice, uses stablecoins to deploy cross-border payments. It says its transactions are cheaper and can clear in just hours, compared to longer settlement times for fiat payments. Rail says on its website that the company is responsible for 10% of all global stablecoin-based payment activity. Trump in July signed a bill into law to create a federal regulatory regime for stablecoins, which analysts said could allow digital assets to become an everyday way to make payments and move money. Stablecoins are designed to maintain a constant value, usually a 1:1 U.S. dollar peg, and their use has exploded, notably by crypto traders moving funds between tokens. Ripple said in April that it would also buy multi-asset prime broker Hidden Road in a $1.25 billion deal, one of its largest acquisitions yet, which it said would enhance RLUSD's utility. Ripple launched RLUSD, a stablecoin pegged to the U.S. dollar, last year, as it sought to disrupt the market dominated by Tether and Circle's USDC. According to crypto data provider CoinGecko, RLUSD has a market capitalization of more than $611 million, compared to Tether's market capitalization of more than $164 billion.
Time of India
08-08-2025
- Business
- Time of India
Ripple to buy stablecoin platform Rail for $200 million
Academy Empower your mind, elevate your skills Ripple will buy stablecoin payments platform Rail for $200 million, the company said on Thursday, weeks after U.S. President Donald Trump signed a law that raised expectations cryptocurrency tokens are about to enter the a crypto company that is closely associated with the token XRP and issues its own stablecoin called RLUSD, has invested heavily in stablecoin infrastructure in recent acquisition - which will close in the fourth quarter of this year pending regulatory approvals - will enable Ripple and Rail to "deliver the most comprehensive stablecoin payments solution available in the market," it will also add virtual accounts and automated back-office processes to Ripple's existing payments capabilities, the company said in a release."As regulations become more clear and the space has grown and matured, this opportunity for stablecoin payments is really ripe, and the acquisition of Rail just really solidifies our market leadership in stablecoin payments," said Monica Long, president of Ripple in an Rail, backed by Galaxy Ventures and Accomplice, uses stablecoins to deploy cross-border payments . It says its transactions are cheaper and can clear in just hours, compared to longer settlement times for fiat says on its website that the company is responsible for 10% of all global stablecoin-based payment in July signed a bill into law to create a federal regulatory regime for stablecoins, which analysts said could allow digital assets to become an everyday way to make payments and move are designed to maintain a constant value, usually a 1:1 U.S. dollar peg, and their use has exploded, notably by crypto traders moving funds between said in April that it would also buy multi-asset prime broker Hidden Road in a $1.25 billion deal, one of its largest acquisitions yet, which it said would enhance RLUSD's launched RLUSD, a stablecoin pegged to the U.S. dollar, last year, as it sought to disrupt the market dominated by Tether and Circle's USDC According to crypto data provider CoinGecko, RLUSD has a market capitalization of more than $611 million, compared to Tether's market capitalization of more than $164 billion.
Yahoo
07-08-2025
- Business
- Yahoo
Ripple to Buy Stablecoin Payments Firm Rail for $200M to Boost RLUSD
Ripple is buying Rail, a stablecoin payments platform, for $200 million, the firm said on Thursday. The deal is likely to close in the fourth quarter of this year, the statement said. Rail is a Toronto-based payments platform backed by Galaxy Ventures and Accomplice. The Rail acquisition is a way for Ripple to delve deeper into the fast-growing stablecoin ecosystem after launching its RLUSD stablecoin in December last year. RLUSD has a market cap of over $600 million, placing it in the top largest stablecoins, according to data tracked by CoinMarketCap. Ripple previously had offered to buy Circle (CRCL) for $4 billion-$5 billion, but that stablecoin giant ended up going public several weeks back. It's since delivered amazing returns for its IPO investors. Ripple acquired multi-asset prime brokerage firm Hidden Road for $1.25 billion in April, with plans to expand its clearing and finance operations, to the end of creating the world's largest non-bank prime broker. Now the acquisition of Rail will allow Ripple to deliver a more comprehensive stabecoin payments service, the company said in Thursday's announcement. Rail's capabilities include virtual accounts and automated back-office systems, enabling customers to transact in digital assets without the need to open dedicated crypto bank accounts or wallets on exchanges. "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 Monica Long, Ripple President. The deal was first reported by Reuters.
Business Recorder
07-08-2025
- Business
- Business Recorder
Ripple to buy stablecoin platform Rail for $200 million
Ripple will buy stablecoin payments platform Rail for $200 million, the company said on Thursday, weeks after U.S. President Donald Trump signed a law that raised expectations cryptocurrency tokens are about to enter the mainstream. Ripple, a crypto company that issues the token XRP as well as its own stablecoin called RLUSD, has invested heavily in stablecoin infrastructure in recent months. The acquisition - which will close in the fourth quarter of this year pending regulatory approvals - will enable Ripple and Rail to 'deliver the most comprehensive stablecoin payments solution available in the market,' it said. 'As regulations become more clear and the space has grown and matured, this opportunity for stablecoin payments is really ripe, and the acquisition of Rail just really solidifies our market leadership in stablecoin payments,' said Monica Long, president of Ripple in an interview. Toronto-based Rail, backed by Galaxy Ventures and Accomplice, uses stablecoins to deploy cross-border payments. It says its transactions are cheaper and can clear in just hours, compared to longer settlement times for fiat payments. Rail says on its website that the company is responsible for 10% of all global stablecoin-based payment activity. Trump in July signed a bill into law to create a federal regulatory regime for stablecoins, which analysts said could allow digital assets to become an everyday way to make payments and move money. Stablecoins are designed to maintain a constant value, usually a 1:1 U.S. dollar peg, and their use has exploded, notably by crypto traders moving funds between tokens. Ripple said in April that it would also buy multi-asset prime broker Hidden Road in a $1.25 billion deal, one of its largest acquisitions yet, which it said would enhance RLUSD's utility. Ripple launched RLUSD, a stablecoin pegged to the U.S. dollar, last year, as it sought to disrupt the market dominated by Tether and Circle's USDC.
Reuters
07-08-2025
- Business
- Reuters
Exclusive: Ripple to buy stablecoin platform Rail for $200 million
Aug 7 (Reuters) - Ripple will buy stablecoin payments platform Rail for $200 million, the company said on Thursday, weeks after U.S. President Donald Trump signed a law that raised expectations cryptocurrency tokens are about to enter the mainstream. Ripple, a crypto company that issues the token XRP as well as its own stablecoin called RLUSD, has invested heavily in stablecoin infrastructure in recent months. The acquisition - which will close in the fourth quarter of this year pending regulatory approvals - will enable Ripple and Rail to "deliver the most comprehensive stablecoin payments solution available in the market," it said. "As regulations become more clear and the space has grown and matured, this opportunity for stablecoin payments is really ripe, and the acquisition of Rail just really solidifies our market leadership in stablecoin payments," said Monica Long, president of Ripple in an interview. Toronto-based Rail, backed by Galaxy Ventures and Accomplice, uses stablecoins to deploy cross-border payments. It says its transactions are cheaper and can clear in just hours, compared to longer settlement times for fiat payments. Rail says on its website that the company is responsible for 10% of all global stablecoin-based payment activity. Trump in July signed a bill into law to create a federal regulatory regime for stablecoins, which analysts said could allow digital assets to become an everyday way to make payments and move money. Stablecoins are designed to maintain a constant value, usually a 1:1 U.S. dollar peg, and their use has exploded, notably by crypto traders moving funds between tokens. Ripple said in April that it would also buy multi-asset prime broker Hidden Road in a $1.25 billion deal, one of its largest acquisitions yet, which it said would enhance RLUSD's utility. Ripple launched RLUSD, a stablecoin pegged to the U.S. dollar, last year, as it sought to disrupt the market dominated by Tether and Circle's USDC.
