Ripple Expands Stablecoin Infrastructure Partnership as it Seeks Bank License | Breaking Crypto News & Blockchain Updates

Ripple Expands Stablecoin Infrastructure Partnership as it Seeks Bank License — Ripple has partnered with London-based fintech firm OpenPayd to build a stablecoin and payments infrastructure for businesses looking to move money ac...

Ripple has partnered with London-based fintech firm OpenPayd to build a stablecoin and payments infrastructure for businesses looking to move money across borders quickly and at lower costs.

The news comes the day Ripple said itappliedfor a national banking license at the Office of the Comptroller of the Currency(OCC). This license would allow the company to expand its crypto services and operate across state lines under federal regulation.

A key part of thenew collaborationis support for Ripple USD(RLUSD), Ripple’s U.S. dollar stablecoin. OpenPayd will allow for the direct minting and burning of RLUSD.

The companies said the solution aims to simplify cross-border payments, treasury management, and dollar liquidity needs.

“The future of global finance depends on seamless interoperability between traditional infrastructure and digital assets,” saidJack McDonald, Ripple’s SVP of stablecoins, adding that the partnership “gives enterprises reliable access to RLUSD, combining the stability and compliance they expect with the connectivity they need.”

Ripple Payments, per the release, processes over $70 billion in payment volume annually, spanning more than 90 payout markets.

The partnership news also comes shortly after Ripple Labs’ CEO Brad Garlinghouse revealed the firmdropped its cross-appealagainst the U.S. Securities and Exchange Commission to end a year-long legal battle with the regulator.

Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.

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