Key Insights:
- Cross River’s RLUSD deal makes XRP news as the bank adds XRPL payment support.
- Fintechs can access RLUSD, ACH, wires, and real-time payments through a single API.
- Standard Chartered’s RLUSD custody is live, while LMAX collateral plans remain pending.
XRP news reports that Cross River Bank has partnered with Ripple to integrate the RLUSD stablecoin into its U.S. banking infrastructure.
The deal brings XRP Ledger transactions into the bank’s proprietary Core Operating System, known as COS. It gives fintech customers access to blockchain payments via a single API. The partnership covers real-time settlement and cross-border transactions.
XRP News: RLUSD Joins Cross River’s Payment Platform
In the XRP news, Cross River said customers can access RLUSD stablecoin without deploying their own blockchain infrastructure.
The integration gives issuers and acquirers an additional settlement option within payment networks. It also allows them to settle intraday, while the companies aim to reduce settlement delays.
Customers can move between U.S. dollars and RLUSD through Cross River’s stablecoin infrastructure. They can also use it for cross-border payments and treasury movements around the clock. The banking platform connects those services with ACH, wire transfers, and real-time payments.
Following the XRP news, Adam Goller, Cross River’s head of fintech banking, said the partnership would simplify international payments for businesses.
He identified reliance on multiple providers as a source of complexity. The integration expands stablecoin capabilities already under development at the bank, according to Goller.
Ripple Details RLUSD Stablecoin Scale and Ledger Settlement
The companies described RLUSD as a stablecoin designed for institutional use and backed by the U.S. dollar.
Their announcement put their market capitalization above $2.5 billion, with more than $1 billion issued on the XRP Ledger. They linked that growth to demand across payments, trading, and institutional applications.
The XRP Ledger operates as a public blockchain, with transactions settling in three to five seconds, according to the announcement.
Transaction fees cost a fraction of a cent, and transfers can move around the clock. The companies said the network has settled more than $1.3 trillion in value.
Markus Infanger, Ripple’s senior vice president of RippleX, said the partnership embeds stablecoin payments within existing banking infrastructure.
He said Cross River combines RLUSD settlement with its regulated banking platform. The protocol brings programmability for stablecoins into the same environment as traditional payment services.
Standard Chartered Adds Custody as Collateral Plans Develop
The XRP news follows Standard Chartered’s launch of institutional RLUSD custody on the XRP Ledger through its DIFC branch.
The service is live, and the Dubai Financial Services Authority regulates the branch. Standard Chartered said the custody support forms part of its expanding digital asset services. In addition, the bank announced the custody launch in a Monday statement.
The bank is also working with Ripple and LMAX Group on a separate collateral arrangement. That plan would make RLUSD eligible collateral for certain LMAX products through a collateral mirroring model.
The model would mirror the value of eligible RLUSD collateral to LMAX Group. The arrangement would not require institutions to transfer the underlying assets directly to the trading venue.
However, the planned collateral integration remains subject to final documentation, testing, regulatory requirements, and internal approvals.
The partners have announced no launch date for that arrangement. Standard Chartered said the proposal would give institutions greater flexibility in holding and trading crypto assets.
Waqar Chaudry, Standard Chartered’s global head of digital assets, highlighted secure custody, access to liquidity, and efficient collateral deployment.
Ripple’s senior vice president for stablecoins, Jack McDonald, described RLUSD as designed for this institutional use. He said the arrangement connects Ripple’s stablecoin with Standard Chartered’s custody capabilities and LMAX Group’s trading infrastructure.
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