TLDRRipple expanded its payments platform to support a full stablecoin workflow for banks and fintechs.The upgraded Ripple Payments platform now enables collection, custody, conversion, and payout using stablecoins.Ripple Payments operates in more than 60 markets and has processed over $100 billion in transaction volume.Ripple integrated its dollar-pegged stablecoin RLUSD into the expanded payments stack.RLUSD has reached a circulating supply of about $1.5 billion in the global stablecoin market.Ripple has expanded its global payments platform to support a broader stablecoin workflow for banks and fintechs. The company aims to reduce reliance on pre-funded overseas accounts and speed up cross-border transactions. It announced the upgrade on Tuesday and confirmed expanded capabilities across its network.Ripple upgrades payments platform with stablecoin workflowRipple upgraded Ripple Payments to support collection, custody, conversion, and payout through stablecoins. The company said the update connects financial institutions directly to blockchain-based settlement rails. As a result, clients can manage funds without parking capital in foreign accounts.The platform operates in more than 60 markets and has processed over $100 billion in volume. Ripple stated that Switzerland’s AMINA Bank, Brazil’s Banco Genial, Malaysia’s ECIB, and Philippines-based AltPayNet participate in the network. The company said the expanded stack allows institutions to move funds faster while maintaining operational control.Ripple is valued at $17.7 billion, according to Forge Global, which tracks pre-IPO shares. The company remains privately held while expanding its enterprise offerings. It said the new features position Ripple Payments to compete directly with legacy providers.RLUSD stablecoin gains traction as supply reaches $1.5 billionRipple continues to integrate its dollar-pegged token, RLUSD, into its payments infrastructure. RLUSD trades at $1 and holds a circulating supply of about $1.5 billion. The company said the token supports real-time settlement across supported markets.Ripple stated that RLUSD accounts for a small but growing share of the global stablecoin market. It said clients can hold, exchange, and settle transactions using fiat or stablecoins. The company completed its acquisition of Rail last August for $200 million to support these services.Ripple also acquired custody and treasury automation firm Palisade to strengthen asset management. It said these acquisitions expand its custody and treasury capabilities within the payments stack. The company confirmed that these tools integrate with Ripple Payments.In December, the US Office of the Comptroller of the Currency conditionally approved national trust bank charters for Ripple National Trust Bank. The regulator also granted conditional approvals to Circle, BitGo, Paxos Trust Company, and Fidelity Digital Assets. If finalized, the charters would allow asset and stablecoin reserve management under federal oversight.Ripple chief legal officer Stuart Alderoty attended a February White House meeting on crypto legislation. He joined other crypto and banking representatives to discuss stablecoin provisions. Lawmakers continue negotiations in Washington, DC, over a proposed US crypto market structure bill.The post Ripple expands stablecoin payments platform for banks appeared first on Blockonomi.