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Ripple Invests $200 Million to Acquire Payment Platform Rail, to Jointly Develop a Stablecoin Payment Solution
BlockBeats News, August 8th, Ripple announced that it has agreed to acquire the stablecoin-based global payment platform Rail for $200 million.
It is reported that Rail provides payment solutions to fintech companies, payment service providers, digital banks, and enterprises, including virtual IBANs, named accounts, USD payment channels, and third-party payments, and currently has 12 bank partners.
Through this acquisition, Ripple and Rail will jointly develop a stablecoin payment solution aimed at enhancing Ripple's position as a "digital asset payment infrastructure." Ripple Payments currently has an extensive payment network, digital asset liquidity, and over 60 licenses for compliant management of customer payment flows. Rail's virtual accounts and automated backend infrastructure will further enhance Ripple's operational efficiency.
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