Ripple is expanding its global payments platform to give banks and fintechs a more complete stablecoin workflow, aiming to speed up cross-border settlements and cut the time and capital tied up in traditional networks. The upgrade to Ripple Payments adds capabilities for collecting, custodying, converting, and payout of stablecoins, tying together institutional rails with on-chain settlement. The move marks a deeper push to compete with legacy providers by reducing reliance on pre-funded accounts and correspondent banking chains that can bind up liquidity and slow transfers. The announcement comes as Ripple showcases its growing footprint across markets and its evolving infrastructure footprint in a sector where liquidity, speed, and regulatory clarity increasingly shape the competitive landscape. Key takeaways Ripple Payments now supports end-to-end stablecoin workflows for institutions, including collection, custody, conversion, and payout, expanding its role beyond simple settleme...
Two financial technology powerhouses are accelerating the integration of tokenized money into everyday payments. SoFi Technologies and Mastercard unveiled a partnership that will allow settlement of Mastercard card transactions using SoFiUSD, the dollar-backed stablecoin issued by SoFi Bank N.A. Across Mastercard’s global network, so-called stablecoin settlement could run around the clock, enabling 24/7 processing. In practical terms, SoFi Bank will settle its own Mastercard credit and debit transactions in SoFiUSD, while SoFi’s Galileo payments platform will give issuer banks and card programs the option to use the stablecoin for settlement across Mastercard’s network—the second-largest processor in the world. SoFiUSD, which launched in December, is issued by an OCC-regulated insured depository institution and is backed 1:1 by cash reserves. The move signals a deeper push by major rails to incorporate bank-issued digital dollars into everyday financial activity, expanding the reach of...