Ripple Payments: cross-border transfers with stablecoins
Ripple is a financial technology company that develops crypto services for businesses. Its main product, Ripple Payments, lets banks and payment firms send money across borders and settle in stablecoins or fiat. Ripple also sells custody software to banks and issues the dollar stablecoin RLUSD.
How Ripple Payments works
On its cross-border payments page Ripple calls the product "a fully managed, end-to-end payments solution" with last-mile rails across more than 60 markets, a network that has processed over 100 billion US dollars in payments volume, and settlement in more than 17 fiat currencies plus major stablecoins. Customers pay in, pay out and settle in RLUSD and other stablecoins, or fiat; where a payment runs through a digital asset such as XRP, the fiat converts, settles on-chain in seconds and converts back. Ripple's documentation names payment providers, banks and multinational businesses as customers, and Ripple Payments Direct lets a business use Ripple as its payments provider without holding XRP. B2B cross-border payments compares the routes companies use today.
RLUSD and the XRP Ledger
Ripple calls RLUSD "the compliance-first stablecoin built for regulated financial institutions" on its home page. RLUSD runs on the XRP Ledger and Ethereum, backed by dollar deposits, US government bonds and cash equivalents, as XRP Ledger explains; the same page separates Ripple the company from XRP the token and the ledger as an open network. Mastercard's Multi-Token Network settles through regulated stablecoins including RLUSD, as stablecoin payments notes.
Licenses in Europe and Ripple Custody
Luxembourg's CSSF granted Ripple full approval as an electronic money institution, which Ripple says will "accelerate the expansion of Ripple Payments across the European Union", and the CSSF later authorized Ripple as a crypto asset service provider under MiCA. Ripple Group states it holds more than 85 licenses worldwide, including a New York trust company charter. Ripple Custody, formerly the Swiss firm Metaco, holds digital assets for banks: BBVA Switzerland runs it inside its core banking system for private banking clients, and Societe Generale-FORGE used it to bring its euro stablecoin EURCV to the XRP Ledger.
Upcoming payments and digital money events
Ripple and Finance Loop
Ripple is a member of the Digital Euro Association, a strategic partner of Finance Loop, alongside Raiffeisen Bank International, Union Investment and BitGo. Stablecoin payment rails are also on the program of Capital & Code in Frankfurt, where Finance Loop is media partner.
Payments & Digital Money
Investment & Digital Assets
Risk & Compliance
Do I need XRP to use Ripple Payments?
No. Ripple Payments settles in RLUSD, other stablecoins or fiat, and Ripple Payments Direct lets a business use Ripple as its payments provider without holding XRP.
Is Ripple licensed in the EU?
Yes. Luxembourg's CSSF approved Ripple as an electronic money institution and authorized it as a crypto asset service provider under MiCA.
What is Ripple Custody?
Ripple Custody is Ripple's custody software for banks and financial firms, built on the Swiss company Metaco that Ripple acquired. BBVA Switzerland and Societe Generale-FORGE use it.
Cross-border payments and stablecoins
Payments and stablecoin firms
Ripple and Finance Loop
Finance Loop works with the Digital Euro Association, whose members include Ripple, and covers stablecoin payment rails at Capital & Code in Frankfurt. Cross-border payments with stablecoins belong to Finance Loop's Payments & Digital Money track.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.