Financial infrastructure provider OpenPayd has partnered with Ripple to offer compliant, efficient, and scalable payment solutions for enterprise clients.
As part of their collaboration, OpenPayd’s global fiat infrastructure, which includes real-time payment rails, multi-currency accounts, and virtual IBANs, is set to support Ripple Payments into EUR and GBP. Ripple Payments, the company’s cross-border payment solution, employs blockchain and digital assets, as well as a global network of payout partners to facilitate efficient, transparent, and reliable cross-border payments and on and off-ramps for banks, crypto companies, and fintech firms worldwide.
Furthermore, the alliance with Ripple supports the advancement of OpenPayd’s recently rolled out stablecoin infrastructure, which focuses on making money movement instant and more optimal by connecting local and international fiat rails to major blockchains and enabling businesses to view, hold, conduct, and receive payments across any digital currency and rail globally.
Ripple and OpenPayd’s partnership plans
Through this initiative, OpenPayd is set to offer direct minting and burning capabilities for Ripple USD (RLUSD). Businesses will be able to convert between fiat and RLUSD by accessing OpenPayd’s suite of services, including embedded accounts, payments, and trading, through a single API. As an enterprise-grade, USD-denominated stablecoin, RLUSD was developed to deliver utility and compliance, with the asset being backed by Ripple’s experience in working with crypto and traditional finance.
Moreover, the solution can be leveraged for a variety of use cases, including cross-border payments, global treasury management, and simplified access to USD liquidity. With enterprise demand for stablecoins increasing, businesses require real-time infrastructure to manage money worldwide, as well as the ability to do so between traditional finance and blockchains. The collaboration between OpenPayd and Ripple seeks to provide more efficient, transparent, and cost-effective payment flows.
The partnership also underlines a shared commitment to optimising fiat infrastructure and supporting mainstream stablecoin adoption. By working together, Ripple and OpenPayd plan to offer the tools that enterprises need to move and manage money worldwide, while future-proofing their payment strategies through blockchain-enabled finance. Commenting on the move, representatives from OpenPayd emphasised that, by merging Ripple Payments with OpenPayd’s rail-agnostic and interoperable fiat infrastructure, the two companies can provide a unified platform that links traditional finance with blockchain.
