Ripple has partnered with U.K.-based OpenPayd to integrate its real-time payment rails and multicurrency accounts into Ripple Payments, facilitating instant EUR and GBP settlements.
The partnership involves the use of Ripple USD (RLUSD), Ripple's USD-denominated stablecoin, allowing clients to seamlessly move between fiat balances and tokenized dollars through a single API.
Regulatory approvals for RLUSD have been increasing, with recognition by the Dubai Financial Services Authority and compliance with New York standards, positioning the stablecoin for institutional adoption.
The OpenPayd integration provides Ripple with a fiat on- and off-ramp in the European Economic Area and UK, catering to nearly 40% of RLUSD treasury flows, signaling a significant step towards real-world adoption of stablecoins at scale.