In a groundbreaking move, Ripple has launched an innovative partnership with OpenPayd, a prominent banking-as-a-service provider in the U.K., setting the stage for a new era in stable-asset integration. This collaboration features OpenPayd’s sophisticated payment infrastructure, including real-time transaction capabilities and virtual IBANs, seamlessly integrated into Ripple Payments. The partnership aims to facilitate instant settlement in GBP and EUR across Ripple’s extensive network, which already boasts over 90% coverage of daily foreign exchange flows and has successfully processed upwards of $70 billion in transactions.

Ripple Enhances Its Stablecoin Strategy

Central to this partnership is Ripple USD (RLUSD), an enterprise-focused USD-backed stablecoin. This integration allows OpenPayd to provide on-platform minting and burning of RLUSD, enabling clients to transition effortlessly between traditional fiat currencies and tokenized dollars through a streamlined API.

Iana Dimitrova, CEO of OpenPayd, emphasized this collaboration as a vital bridge between the realms of conventional finance and blockchain technology. She articulated that merging Ripple Payments with OpenPayd’s versatile infrastructure delivers a cohesive platform that simplifies access to stablecoin liquidity and enhances cross-border transactions, treasury management, and dollar-denominated operations.

For Ripple, this announcement further solidifies a robust initiative to deploy RLUSD across various regulated platforms and payment pathways. Initially integrated into Ripple Payments in early April 2025, RLUSD witnessed rapid growth, approaching a market cap of $250 million while achieving a cumulative trading volume of $10 billion. Jack McDonald, senior vice president of stablecoins, noted significant adoption by payment providers like BKK Forex and iSend, underlining the stablecoin’s ability to streamline treasury processes and asset management.

Following this, a wave of regulatory endorsements has elevated RLUSD’s status. On June 3, the Dubai Financial Services Authority granted approval for RLUSD as a crypto token within the Dubai International Financial Centre, commending its robust 1:1 cash backing and oversight by the New York Department of Financial Services. This endorsement positions RLUSD among a select few stablecoins that meet stringent regulatory compliance in both New York and Dubai—an essential factor for gaining institutional confidence.

Liquidity on the XRP Ledger is also witnessing a notable surge. Ripple’s mid-June update highlighted that RLUSD’s spot turnover reached $500 million during the second quarter, making it the leading fiat-backed stablecoin on the chain. This report also pointed to an increasing multichain presence, as RLUSD is now available on both XRPL and Ethereum, reflecting a growing demand for flexible on-chain currencies that prioritize enterprise-level compliance.

This strategic integration with OpenPayd equips Ripple with vital fiat on- and off-ramp capabilities across the European Economic Area and the UK—regions responsible for nearly 40% of RLUSD’s treasury transactions in the first half of this year, according to internal data. McDonald remarked that this partnership marks a significant leap toward widespread stablecoin adoption, emphasizing that institutional players prioritize “seamless integration between established financial systems and digital assets.”

While the specifics of the agreement were not disclosed, both companies indicated a swift implementation timeline. OpenPayd announced that functionalities for RLUSD minting, redemption, and multicurrency treasury services will be accessible “through a single, unified API” later this quarter, with Ripple hinting at additional currency corridors as client interest continues to grow.

As of the latest update, XRP is trading at $2.17, reflecting ongoing investor interest and market dynamics.