Ripple Expands Its Stablecoin Payments Infra with $200M Rail Acquisition
Ripple Labs, the team behind XRP and USD-pegged stablecoin RLUSD, announced today, Aug. 7, the acquisition of stablecoin platform Rail in a $200 million deal.
The move is meant to support Ripple’s goal of becoming the leader in digital payments and its underlying infrastructure, per the firm’s official press release.
By acquiring Rail, Ripple has access to an array of benefits for its payments business, such as stablecoin on- and off-ramps, virtual accounts, a network of new banking partners, and enhanced liquidity for digital assets in the ecosystem, namely RLUSD and XRP.
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