Partnership Connects Traditional Banking with Blockchain Payments

Cross River Bank has embedded Ripple’s RLUSD stablecoin directly into its regulated banking infrastructure, enabling businesses to manage stablecoin movements and conventional dollar payments without maintaining separate blockchain systems. The integration routes all activity through the bank’s Core Operating System, where transactions on the XRP Ledger settle in three to five seconds at a fraction of a cent per transfer and operate continuously, including outside regular banking hours.

Fintech customers gain access to cross-border payments, intraday settlement, and treasury transfers using the same connection they already employ for ACH, wire, and real-time systems. This approach addresses longstanding complexities in international money movement, according to Adam Goller, head of fintech banking at Cross River.

The bank noted that its services remain available only in a limited number of U.S. states. The move builds on earlier stablecoin development efforts at Cross River and positions RLUSD as a core component of existing payment networks rather than a parallel system.

RLUSD Market Cap Surpasses $2.5 Billion

Ripple and Cross River announced that RLUSD’s market capitalization had exceeded $2.5 billion, with more than $1 billion of the token issued on the XRP Ledger. Earlier snapshots showed circulation approaching 2.49 billion tokens, with the stablecoin accounting for roughly 92 percent of tracked stablecoin supply on the ledger at around $1.10 billion.

Standard Custody & Trust Company, a New York State Department of Financial Services-regulated issuer, backs RLUSD reserves. Monthly independent attestations confirm holdings exceed circulating supply, with the latest reported figures standing at approximately $2.409 billion in tokens against $2.5315 billion in reserves.

The XRP Ledger as a whole has processed more than $1.3 trillion in cumulative settlement value, underscoring the network’s scale for institutional use.

Broader Institutional Adoption Accelerates

The Cross River agreement forms part of Ripple’s expanding network of partnerships that bring RLUSD into brokerage settlement, institutional custody, and developer tools. DriveWealth, for instance, has begun integrating RLUSD for settlement and payment processing across more than 100 partner platforms, with initial rollout in Europe and planned U.S. expansion. The arrangement includes tools for creating and redeeming tokens as well as European digital asset custody.

Standard Chartered launched institutional-grade RLUSD custody through its Dubai International Financial Centre branch on October 12, with eligible clients able to hold the asset under Dubai Financial Services Authority regulation. Separate work with LMAX Group on collateral mirroring remains pending final documentation and approvals. Stripe-owned Privy released XRP Ledger wallet development kits on October 13, supporting embedded wallets for stablecoin payments without users managing cryptographic keys.

These developments collectively embed RLUSD into existing financial workflows, including equity trading funding, cross-border dollar transfers, and real-time collateral support, while preserving full regulatory compliance.

Stablecoin Offers 24/7 Settlement and Low Costs

Markus Infanger, senior vice president of RippleX, described the integration as embedding stablecoins into the banking infrastructure businesses already rely on, rather than creating separate parallel systems. This alignment with regulated platforms like Cross River’s Core Operating System allows issuers and acquirers to settle funds during the day and outside standard hours without disrupting traditional operations.

RLUSD transactions on the XRP Ledger provide a consistent alternative for treasury management and international payments, complementing conventional methods while maintaining full auditability and reserve transparency. The partnership highlights how institutional stablecoins are moving from experimental use to core components of regulated banking environments.