Ripple is making a big push into stablecoins, and its latest move is a partnership with OpenPayd, a UK banking-as-a-service company. This collaboration brings together Ripple’s payment system with OpenPayd’s real-time payment network.
Instant Payments and Stablecoins
The partnership integrates OpenPayd’s features – like real-time payments, multi-currency accounts, and virtual IBANs – directly into Ripple Payments. This means instant EUR and GBP settlements are now possible, expanding Ripple’s already impressive network which handles over 90% of daily FX flows and has processed over $70 billion.
At the heart of this is Ripple USD (RLUSD), Ripple’s stablecoin pegged to the US dollar. OpenPayd will allow users to easily create and destroy RLUSD tokens, smoothly transitioning between fiat currency and the tokenized dollars using a single API. OpenPayd’s CEO, Iana Dimitrova, sees this as a bridge between traditional finance and blockchain technology, simplifying cross-border payments and treasury management for businesses.
Growing Adoption of RLUSD
This partnership builds on Ripple’s efforts to integrate RLUSD into regulated markets. RLUSD’s market cap is already substantial, and it’s been gaining regulatory approvals. For example, the Dubai Financial Services Authority approved RLUSD for use within the Dubai International Financial Centre. This, combined with its approval in New York, makes it a very attractive option for institutional investors.
RLUSD’s trading volume is also increasing, with $500 million in spot trading in Q2 2025, making it the largest fiat-backed stablecoin on the XRP Ledger. It’s also available on both the XRP Ledger and Ethereum, making it even more versatile.
The OpenPayd integration gives Ripple a significant boost in the European Economic Area and the UK, key markets for RLUSD. Ripple’s Jack McDonald sees this as a major step towards wider stablecoin adoption, emphasizing the importance of seamless integration between traditional and digital financial systems.
What’s Next?
While the specific financial details weren’t released, both companies expect a quick rollout. OpenPayd plans to offer RLUSD services through a single API later this quarter, and Ripple hints at expanding into more currencies based on demand. At the time of writing, XRP was trading at $2.17.
