Ripple Partners OpenPayd to Revolutionize Global Payments with RLUSD Stablecoin

Ripple and OpenPayd have announced a strategic partnership aimed at revolutionizing global payments through the integration of OpenPayd’s universal financial infrastructure with Ripple’s enterprise-grade stablecoin and blockchain network. This collaboration is set to enable faster, simpler, and more transparent global payments, leveraging the capabilities of RLUSD, Ripple’s stablecoin.

The partnership will allow OpenPayd to provide direct minting and burning capabilities for the RLUSD stablecoin. This means businesses can seamlessly convert between fiat currencies and RLUSD through OpenPayd’s services, which include embedded accounts, payments, and trading, all accessible via a single API. This integration is designed to bridge traditional finance with blockchain technology, offering a unified platform that supports real-time money movement and cross-border payments.

According to Jack McDonald, SVP Stablecoins at Ripple, the future of global finance relies on the seamless interoperability between traditional infrastructure and digital assets. This partnership is a significant step towards accelerating the real-world adoption of stablecoins at scale. Iana Dimitrova, chief executive at OpenPayd, echoed this sentiment, stating that by combining Ripple Payments with OpenPayd’s rail-agnostic and fully interoperable fiat infrastructure, they are delivering a platform that unifies traditional finance and blockchain.

RLUSD, an enterprise-grade, USD-denominated stablecoin on the XRP Ledger and Ethereum blockchains, is backed by Ripple’s extensive experience in both crypto and traditional finance. It supports a wide range of use cases, including cross-border payments, global treasury management, and streamlined access to U.S. dollar liquidity. The stablecoin has attained a market cap of $455 million and continues to expand its partnerships to boost cross-border payments.

The partnership between Ripple and OpenPayd comes at a time when the demand for stablecoins is increasing, driven by the need for cost-effective cross-border payment solutions. The recent passage of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) by the US Senate has further fueled this demand, as companies seek to reduce costs associated with cross-border payments and other use cases.

Ripple Payments, with its near-global coverage of more than 90 payout markets, representing over 90% of the daily FX markets, processes over $70 billion in volume. This extensive network, combined with OpenPayd’s capabilities, positions the partnership to deliver compliant, efficient, and scalable payment solutions for enterprise clients worldwide.

In addition to this partnership, OpenPayd has also collaborated with Circle to offer seamless conversion between fiat currencies and USDC, further boosting the real-world utility of stablecoins. This strategic move aligns with the growing trend of stablecoin adoption as countries move to regulate its use, ensuring that businesses can manage their money, treasury flows, and dollar-based operations more effectively.