Ripple Partners with OpenPayd to Develop Stablecoin and Payment Infrastructure
Ripple has partnered with OpenPayd to develop a stablecoin and payment infrastructure aimed at facilitating faster and cheaper cross-border transactions.
- The partnership will support Ripple USD (RLUSD), its U.S. dollar stablecoin.
- OpenPayd will enable the direct minting and burning of RLUSD.
- The initiative seeks to enhance cross-border payments, treasury management, and dollar liquidity.
- Ripple Payments processes over $70 billion annually in more than 90 payout markets.
- This news follows Ripple’s application for a national banking license from the OCC to broaden its crypto services.
- Ripple recently dropped its cross-appeal against the SEC, concluding a legal dispute with the regulator.