As partnership and investment news continues to emerge in the cryptocurrency market, the latest news comes from Ripple (XRP), one of the most important names in the market.
Accordingly, Ripple has made a strategic investment in the on-chain service provider Notabene.
Notabene, a provider of compliance-focused on-chain transaction services, announced in an official statement that it has received a strategic investment from Ripple. However, the amount of the investment was not disclosed.
“Notabene received a strategic investment from Ripple.”
By integrating RLUSD into Notabene Flow and exploring how trusted payment authorization can complement Ripple Payments, we will collaborate to expand institutional stablecoin payments.
According to the announcement, Ripple’s dollar-backed stablecoin, RLUSD, will be integrated into Notabene’s institutional payment platform, Notabene Flow. The parties also aim to combine Ripple Payments infrastructure with Notabene’s transaction verification and payment authorization technologies to enable financial institutions to conduct regulated stablecoin transfers more securely and efficiently.
Notabene currently operates an open network connecting more than 2,300 financial institutions across over 100 jurisdictions, processing over $2 trillion in network transaction volume annually. The two companies also plan to work together to expand the use of RLUSD.
Jack McDonald, Senior Vice President of Ripple Stablecoins, said the following about the investment: “Stablecoins are rapidly becoming part of mainstream financial infrastructure, but institutional adoption isn’t solely dependent on efficient payment systems. Trusted identity, compliance, and transaction authorization are needed before value can move. Notabene’s network addresses one of the key hurdles to institutional adoption, and together, we are helping to build the compliant infrastructure that institutions need to transfer value globally and expand the use case of RLUSD.”
Notabene CEO Pelle Braendgaard stated that financial institutions have moved beyond the question of “should we use stablecoins?”, and the real issue is how to use them securely and in compliance with regulations. According to Braendgaard, the combination of Ripple’s global payment network and Notabene’s trust infrastructure will accelerate the widespread adoption of corporate stablecoin payments.
*This is not investment advice.
Continue Reading: Attention XRP Investors: Ripple Announced a Major and Strategic Investment Today!