US-based Cross River Bank announced it has partnered with Ripple to integrate Ripple’s dollar-backed stablecoin RLUSD into its banking infrastructure. The collaboration, announced today, also includes transactions on the XRP Ledger.
RLUSD will be included as an additional option to traditional payment methods within the bank’s Core Operating System. Cross River customers will be able to access stablecoin payments via a single API connection without needing to set up a separate blockchain infrastructure.
Related News: Arthur Hayes Says, “The AI Bubble Will Burst, Bitcoin Will Soar,” and Gives a Date
The bank stated that the integration aims to support 24/7 switching between US dollars and RLUSD, cross-border payments, and corporate treasury transfers. ACH, bank transfer, and real-time payment services will also be available on the same platform.
According to Cross River, transactions on the XRP Ledger can be completed in approximately three to five seconds. The bank aims to expand intraday settlement options for payment networks and reduce transaction delays with this infrastructure.
*This is not investment advice.
Continue Reading: Ripple’s Digital Dollar Is Entering the U.S. Banking System