Ripple has signed an agreement with Cross River Bank to connect its RLUSD stablecoin to a single banking platform for dollar transfers, cross-border payments, and round-the-clock settlement on the XRP Ledger.
Summary
- Cross River will integrate RLUSD into its Core Operating System through a single API connection.
- Fintech customers will access stablecoin transfers alongside ACH, wires, and real-time payment services.
- The bank says its services are currently available only in limited U.S. states.
- Recent Ripple agreements cover brokerage settlement, institutional custody and wallet tools for application developers.
Cross River announced the partnership on Oct. 15, saying fintech companies would be able to move between U.S. dollars and RLUSD through its existing banking infrastructure. Under the agreement, the bank will add the stablecoin to its proprietary Core Operating System, or COS, with transactions supported on the XRP Ledger.
For businesses using the platform, the bank described access to blockchain payments without having to build separate blockchain infrastructure. Cross River said its connection would combine RLUSD transfers with ACH, wire transfers and real-time payments through one application programming interface.
Cross River will connect RLUSD with existing bank payment services
Within its payment network offering, Cross River said RLUSD would give issuers and acquirers another option for settling funds during the day. The bank expects the integration to reduce settlement delays while supporting international payments and treasury transfers outside standard banking hours.
Explaining the service, Adam Goller, Cross River’s head of fintech banking, said:
“Businesses shouldn’t have to rely on several different providers to move money across the globe.”
Goller said the agreement builds on stablecoin capabilities already under development at the bank, allowing fintech customers to convert between dollars and RLUSD while accessing conventional payment methods through the same platform.
According to the announcement, XRP Ledger transactions typically settle within three to five seconds, cost fractions of a cent, and operate around the clock. The release also put the ledger’s cumulative settlement value above $1.3 trillion.
For U.S. businesses considering access, Cross River said its services are currently available only in limited states.
Describing Ripple’s approach, Markus Infanger, senior vice president of RippleX, said stablecoins would become part of “the banking infrastructure businesses already use.” He said connecting RLUSD with Cross River’s regulated platform could simplify international and round-the-clock transfers for fintech companies.
RLUSD supply has expanded under New York supervision
Alongside the banking announcement, the companies reported that RLUSD had exceeded $2.5 billion in market capitalization, including more than $1 billion issued on the XRP Ledger.
As crypto.news reported on Sep. 26, RLUSD’s supply approached $2.5 billion, with CoinMarketCap placing circulation near 2.49 billion tokens. Ripple had reported that the stablecoin passed $2 billion in market value in late August.
At the September snapshot, DefiLlama figures cited in the report placed the XRP Ledger’s total stablecoin supply near $1.19 billion. RLUSD accounted for about $1.10 billion, or more than 92% of the tracked total, while the remaining RLUSD supply circulated on other networks.
For the U.S. issuance structure, Ripple identifies Standard Custody & Trust Company as RLUSD’s issuer. The subsidiary operates under a limited-purpose trust charter supervised by the New York State Department of Financial Services.
According to Ripple’s transparency disclosures, RLUSD reserves are subject to monthly independent attestations. Its published Sep. 24 snapshot listed approximately $2.409 billion in circulating tokens against $2.5315 billion in reserve funds.
DriveWealth plans RLUSD settlement before a U.S. rollout
In a separate agreement announced Oct. 14, Ripple partnered with DriveWealth to introduce RLUSD settlement and payments across a brokerage infrastructure network serving more than 100 partners globally.
According to the companies, settlement integration will begin in Europe before a planned extension to the United States. The arrangement includes RLUSD on the XRP Ledger and tools for creating and redeeming the stablecoin.
For collateral accounts, the announcement described stablecoin deposits that could convert into cash in near real time. Through Ripple Payments, DriveWealth also plans to receive cross-border funds from international partners using its investing infrastructure.
In explaining the funding problem, the companies noted that U.S. equities settle one business day after a trade, while international dollar transfers can take longer. DriveWealth CEO Naureen Hassan said the company wants account funding to support customers already using its 24/5 trading service.
The agreement also covers European digital asset custody, according to the release, with additional markets planned over time. Separately, the companies said they were exploring equity financing through Ripple Prime’s Delta One business.
Standard Chartered custody is live while collateral work continues
On Oct. 12, Standard Chartered launched institutional RLUSD custody on the XRP Ledger through its Dubai International Financial Centre branch.
According to the bank, eligible institutional clients can hold the stablecoin through that operation, which is regulated by the Dubai Financial Services Authority. Standard Chartered is also working with Ripple and LMAX Group on a separate collateral arrangement.
Under the proposed structure, the bank said clients could use eligible RLUSD holdings to support trading positions while leaving the underlying tokens in its custody. Implementation remains subject to testing, final legal documents, internal approvals, and applicable regulatory requirements.
For application developers, Stripe-owned Privy announced XRP Ledger wallet tools through a Ripple partnership on Oct. 13. The provider said developers would be able to create wallets, manage them through software, and sign transactions involving XRP, RLUSD, and other assets issued on the ledger.
Within consumer applications, Privy said its embedded wallets could support stablecoin payments without requiring customers to manage their own cryptographic keys. Its announcement also identified server-side wallets for businesses building AI agents that make payments through systems such as x402.
