Ripple CEO Confirms $200 Million Acquisition of Payment Infrastructure Provider Rail

Ripple CEO Ends Speculation on Major New $200 Million Stablecoin Deal

In a sudden and unexpected move, Brad Garlinghouse, the CEO of Ripple, has officially confirmed the acquisition of Rail, a payment infrastructure provider that specializes in stablecoins, for a staggering $200 million. This bold decision marks a significant milestone for Ripple’s strategic growth plans, solidifying its position as a leading player in the enterprise digital payments space.

According to Garlinghouse, this partnership will make Ripple the go-to infrastructure provider for institutions settling payments via stablecoins, underscoring the company’s commitment to innovation and expansion. The integration of Rail’s capabilities, including virtual accounts, third-party payment support, and treasury automation, will be seamlessly integrated into Ripple’s existing payment network and API stack.

The acquisition comes at a time when Ripple’s own stablecoin, RLUSD, is gaining popularity. With a circulating supply of 612.74 million and a market capitalization of $612.71 million, the asset has now climbed to rank #105 among all cryptocurrencies by market cap, significantly outpacing PayPal’s PYUSD.

RLUSD’s rapid ascension could be attributed to its seamless integration with Ripple’s existing infrastructure, making it an attractive option for financial institutions seeking stable and secure payment solutions.

Source: u.today