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ZEC $1,237 Cross River Bank partners with Ripple to bring RLUSD into banking
Ripple's RLUSD will sit inside Cross River's core banking system, letting fintechs move money over the XRP Ledger through one connection.
Key takeaways
- RLUSD tops $2.5B. Ripple reports RLUSD's market capitalization has passed $2.5 billion, with more than $1 billion issued on the XRP Ledger.
- Settlement in seconds. The companies say XRPL transactions settle in three to five seconds and cost fractions of a cent.
- Limited U.S. reach. Cross River says the services run in only a limited number of U.S. states for now.
What happened
Cross River Bank and Ripple have signed an agreement that brings the RLUSD stablecoin into the bank's services on the XRP Ledger. Cross River says RLUSD will sit inside its proprietary Core Operating System, linking conventional banking services with blockchain payments. The platform will handle wire payments, ACH transfers and real-time settlement through one API connection.
A Cross River spokesperson told Bitcoin.com News the bank is working with Ripple so businesses can send the dollar-backed stablecoin without running their own blockchain systems. Cross River is adding RLUSD to its existing banking system, letting fintechs move funds over traditional banking networks or the XRP Ledger from a single connection. Adam Goller, the bank's head of fintech banking, said customers can move between U.S. dollars and RLUSD, make international payments and manage funds 24 hours a day.
Goller said the arrangement removes the need for several payment providers, cutting complexity. Markus Infanger, senior vice president of RippleX at Ripple, said Cross River is at the forefront of putting RLUSD and the XRP Ledger's fast, low-cost settlement into a regulated banking platform.
First $1.52Latest $1.34-11.8% over the period
Points are daily observations, not closing prices.
Why it matters
The deal places a dollar-backed stablecoin inside a regulated U.S. bank's own technology. Cross River customers can use blockchain payments alongside traditional services without operating blockchain systems themselves. The bank already bridges crypto firms and traditional finance, its Banking-as-a-Service model has connected companies such as Coinbase and Circle to payment networks. Infanger said stablecoins will change payments by joining the banking infrastructure businesses use, rather than running in parallel systems.
For Ripple, the agreement widens an institutional payment network that already reaches further. Standard Chartered has launched custody services for RLUSD, and Ripple's work with Privy has enabled XRP Ledger payments through XRP and RLUSD wallets in applications.
What the data shows
Ripple reported that RLUSD's market capitalization has passed $2.5 billion, with more than $1 billion of the stablecoin issued on XRPL. The companies say XRPL transactions usually settle in three to five seconds.
What is still unclear
- Cross River says the services run in only a limited number of U.S. states, and neither report names those states.
- Neither report says when the RLUSD integration goes live or gives a rollout schedule.
Questions readers ask
What is RLUSD?
RLUSD is Ripple's dollar-backed stablecoin. Ripple reports its market capitalization has passed $2.5 billion, with more than $1 billion issued on the XRP Ledger.
What will Cross River Bank do with RLUSD?
Cross River is adding RLUSD to its existing banking system so fintechs can move money over traditional banking networks or the XRP Ledger from one connection. A spokesperson confirmed the plan to Bitcoin.com News.
Where is the Cross River service available?
Cross River says the services run in only a limited number of U.S. states at present.
