Ripple partners with OpenPayd to create stablecoin infrastructure and applies for national banking license

Ripple partners with OpenPayd to create stablecoin and payment infrastructure for global businesses to transfer money quickly and affordably across borders. Ripple also applies for a national banking license to expand crypto services under federal regulation. OpenPayd supports Ripple USD stablecoin to simplify cross-border payments and treasury management.

Partnership between Ripple and OpenPayd aims to provide enterprise-ready stablecoin and payment infrastructure, including support for Ripple USD stablecoin. Solution targets simplifying cross-border payments, treasury management, and dollar liquidity needs. Ripple Payments processes $70 billion annually across 90 payout markets, enhancing global financial interoperability.

Ripple’s SVP of stablecoins, Jack McDonald, highlights the importance of seamless integration between traditional infrastructure and digital assets for global finance. The partnership with OpenPayd offers enterprises reliable access to RLUSD stablecoin, combining stability, compliance, and connectivity. The collaboration aims to meet the evolving needs of businesses in the digital economy.

Ripple Labs’ CEO, Brad Garlinghouse, makes headlines by dropping the cross-appeal against the SEC, ending a year-long legal battle with the regulator. This decision comes shortly after Ripple applied for a national banking license and partnered with OpenPayd to enhance cross-border payment solutions. Ripple continues to make strategic moves in the crypto industry.

Read more at Yahoo Finance: Ripple Expands Stablecoin Infrastructure Partnership as It Seeks Bank License