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Ripple Announces Acquisition Plans Of Rail, A Stablecoin Infracture Company
Ripple Announces Acquisition Plans Of Rail, A Stablecoin Infracture Company. Photo By Thomas Peham On Unsplash.
Ripple has announced a $200 million acquisition of Rail, a stablecoin-powered infrastructure platform, according to Business Wire. This strategic move is set to further enhance Ripple's list of global services available to businesses, enterprises and financial institutions, positioning itself as a frontrunner for digital asset and payment solutions.
In a statement regarding the acquisition, Ripple's President, Monica Long, emphasized the importance of reinforcing the company's leadership in the booming stablecoin market:
“Stablecoins are quickly becoming a cornerstone of modern finance, and with Rail, we are uniquely positioned to drive the next phase of innovation and adoption of stablecoins and blockchain in global payments.”
Following an earlier acquisition of Hidden Road, Rail is significant as it allows Ripple to offer a more comprehensive stablecoin payment and management services, including fiat currency on/off-ramps, easy API integrations, and corporate treasury management. Rail currently holds over 60 licenses, further adding to Ripple's collection of money transfer licenses in the US and equivalent regulatory support overseas.
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