Binance News
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Ripple to Acquire Stablecoin Platform Rail for $200 Million
According to PANews, Ripple is set to acquire the Toronto-based stablecoin payment platform Rail for $200 million. The transaction, which is subject to regulatory approval, is expected to be finalized in the fourth quarter of this year. Rail, backed by investors such as Galaxy Ventures, handles 10% of global stablecoin payment activities, focusing on cross-border transactions. This acquisition aims to enhance Ripple's payment solutions and the capabilities of its stablecoin, RLUSD. Previously, Ripple announced a $1.25 billion acquisition of Hidden Road to further expand RLUSD's application scenarios.
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