The blockchain payments firm Ripple says it has agreed to acquire the stablecoin-powered payment infrastructure platform Rail for $200 million.
In a statement, Ripple says it is acquiring the Toronto-based Rail amid rising demand for transactions involving stablecoins – cryptocurrencies pegged to another asset such as the US dollar.
[adinserter block="1"]Ripple says the deal will allow the two companies to deliver the most comprehensive stablecoin payments solution available in the market.
Ripple says the acquisition will enable customers to adapt to the rising popularity of stablecoins by offering comprehensive stablecoin pay-ins and pay-outs across key corridors, sans the need to hold crypto on balance sheets.
The integration will also support payments across a range of digital assets, which include XRP and Ripple USD (RLUSD), the US dollar-backed cryptocurrency that the San Francisco-based firm launched in December 2024.
Says Ripple President Monica Long,
“Stablecoins are quickly becoming a cornerstone of modern finance, and with Rail, we are uniquely positioned to drive the next phase of innovation and adoption of stablecoins and blockchain in global payments.”
Announcing the development in a post on the social media platform X, Ripple CEO Brad Garlinghouse says the team-up will create a powerhouse in the stablecoin market.
“Ripple + Rail together will be THE go-to provider of stablecoin payments infrastructure for global financial institutions around the world.”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
