Ripple Partners OpenPayd to Expand RLUSD Stablecoin Use in EUR and GBP

Ripple and OpenPayd have joined forces to enhance payment solutions for enterprise clients, with a particular focus on enabling the direct minting and burning of Ripple USD (RLUSD) stablecoin. This partnership expands Ripple Payments' support into EUR and GBP through OpenPayd’s global fiat infrastructure, which includes real-time payment rails, multi-currency accounts, and virtual IBANs.

Jack McDonald, SVP Stablecoins at Ripple, emphasized the significance of this collaboration, stating that the future of global finance relies on seamless interoperability between traditional infrastructure and digital assets. He highlighted that the partnership provides enterprises with reliable access to RLUSD, combining stability, compliance, and connectivity, thereby accelerating the real-world adoption of stablecoins at scale.

Iana Dimitrova, chief executive at OpenPayd, echoed this sentiment, noting that the partnership represents a major advancement in bridging traditional finance and blockchain. OpenPayd’s newly launched stablecoin infrastructure will facilitate the minting and burning of RLUSD, allowing businesses to convert between fiat and RLUSD seamlessly through a full suite of services, including embedded accounts, payments, and trading, all accessible via a single API.

The companies assert that this partnership will make payments faster, more transparent, and cost-effective. As the demand for stablecoins among enterprises grows, there is an increasing need for real-time, regulated financial infrastructure to manage money seamlessly between traditional finance and blockchains. This collaboration addresses this need by providing a robust solution that enhances the efficiency and security of cross-border payments.

RLUSD, with a market cap of $455 million, continues to expand its reach by partnering with other companies to boost cross-border payments. It offers core services that financial institutions need to tokenize, store, exchange, and move digital assets. Ripple’s payments, including those involving stablecoins, have global coverage with over 90 payout markets, representing more than 90% coverage of the daily FX markets, and processing more than $70 billion in volume.

This strategic partnership between Ripple and OpenPayd is poised to revolutionize the way enterprises conduct financial transactions, making them more efficient, secure, and compliant. By integrating blockchain technology with traditional fiat accounts, the collaboration aims to address the long-standing challenges of cross-border payments, providing a more seamless and reliable solution for businesses operating in multiple regions. This development underscores the growing integration of blockchain technology with traditional financial systems, paving the way for a more interconnected and efficient global economy.