Ripple and Convera team up to revolutionize cross-border payments with blockchain
Ripple and Convera have announced a new partnership to improve cross-border payments. The collaboration will combine blockchain technology with traditional foreign exchange networks. Together, they aim to speed up transactions in slow or expensive payment routes worldwide.
The deal expands Ripple's institutional reach, following recent partnerships with Banco Genial and AMINA Bank. Convera, which operates in over 200 countries, will now integrate Ripple's blockchain liquidity and settlement services into its commercial payment network. The partnership focuses on regulated stablecoin settlement alongside existing fiat payment systems. Ripple will provide blockchain-based liquidity, while Convera handles customer-facing foreign exchange operations. Their approach uses a 'stablecoin sandwich' model—transactions begin and end in fiat but settle via stablecoins in between.
Ripple's technology already covers over 90% of daily global foreign exchange markets. By joining forces with Convera, the companies plan to enhance payment efficiency for enterprise clients. Convera will also roll out crypto-enabled treasury services, targeting corridors where transfers are currently slow or costly.
Earlier this year, Ripple participated in the Monetary Authority of Singapore's BLOOM initiative. The project tested programmable cross-border trade settlements using the XRP Ledger and Ripple's stablecoin, RLUSD. This latest partnership builds on that work, further blending blockchain innovation with established financial infrastructure. The agreement allows Convera to offer faster, lower-cost payments in underserved markets. Ripple's blockchain solutions will support settlements, while Convera manages foreign exchange and client-facing operations. The combined system is designed to streamline global transactions for businesses and financial institutions.
