Cross River Bank links $2.4B RLUSD to core banking system
Cross River Bank has integrated Ripple’s dollar-backed RLUSD stablecoin and XRP Ledger support into its banking platform, letting eligible fintechs access stablecoin payments through the same API used for conventional services. Customers can convert between dollars and RLUSD, settle cross-border payments and treasury transfers around the clock, and choose among blockchain, ACH, wire and real-time payment rails without building their own blockchain infrastructure. Availability is limited to certain US states, which were not specified. The partnership adds a payments and settlement distribution channel for RLUSD; the role of XRP in customer transfers was not clarified. RLUSD’s market capitalization was about $2.4 billion as of Oct. 16, and more than $1 billion had been issued on XRPL, according to Cross River.
