XRP News Today: RedotPay and Ripple Bridge Crypto-Traditional Divide to Transform Remittances

RedotPay, a global stablecoin-based payment fintech, has partnered with Ripple to enhance its cross-border payment capabilities through the integration of Ripple Payments. The collaboration supports the launch of RedotPay's "Send Crypto, Receive NGN" feature, which enables users to convert digital assets like USDC, USDT, BTC, and XRP into Nigerian Naira (NGN) for local bank account deposits within minutes. This initiative addresses the inefficiencies in traditional remittances, which often incur high fees and delays, with average global costs at 6.49% and settlement times spanning one to five business days. Chainalysis data highlights Asia Pacific as the fastest-growing region for on-chain stablecoin activity, driven by trading and remittance use cases, a trend RedotPay aims to capitalize on.

The feature leverages Ripple's cross-border payment infrastructure to offer transparent pricing and near-instant settlements, supporting a range of cryptocurrencies, including XRP, BNB, and Ethereum-based tokens. RedotPay CEO Michael Gao emphasized the milestone as a step toward making digital assets as accessible as fiat currency, stating the integration will expand the company's global reach and cater to emerging markets. Ripple's Jack Cullinane noted the partnership as demonstrating the utility of blockchain-based payments for reducing friction in cross-border transactions.

Ripple's recent regulatory expansion in Singapore further bolsters its role in this ecosystem. The Monetary Authority of Singapore (MAS) granted the firm expanded permissions under its Major Payment Institution license, allowing Ripple to offer token-based settlement services, including XRP and its stablecoin RLUSD, to banks, fintechs, and crypto firms in the region. Fiona Murray, Ripple's Asia Pacific managing director, highlighted Singapore's strategic position as a hub for digital asset innovation, citing a 70% year-over-year increase in on-chain activity in the Asia-Pacific. However, XRP's price dipped 5% following the announcement, testing the $2.00 support level amid bearish momentum indicated by technical indicators.

RedotPay's "Send Crypto, Receive NGN" feature aligns with its broader strategy to expand multi-market payouts, following similar launches for Brazilian Real (BRL) and Mexican Peso (MXN). The company targets tech-savvy users, including digital nomads and freelancers, who require efficient cross-border payment solutions. By integrating Ripple's infrastructure, RedotPay aims to reduce costs and settlement times, positioning itself as a bridge between blockchain and traditional finance.

The partnership underscores the growing intersection of regulated crypto services and global remittance needs. As Ripple expands its licensed offerings in Singapore, the company's ability to provide scalable, compliant solutions may influence broader adoption of stablecoin-based payments in emerging markets. For RedotPay, the integration represents a strategic move to solidify its role in the evolving fintech landscape, where speed, security, and accessibility are paramount.