Ripple is set to acquire the stablecoin payment platform Rail in a deal valued at $200 million. The company expects to finalize the acquisition in the fourth quarter of the year.
This move is seen as a significant step in Ripple’s broader strategy to grow its presence in the stablecoin payments space. Ripple, known for its XRP cryptocurrency and recently launched Ripple USD stablecoin, announced the acquisition on Thursday, August 7.
Through this deal, Ripple will gain access to Rail’s infrastructure, which includes virtual account services, a network of banking partners, and automated back-office tools. These assets are expected to strengthen Ripple’s capabilities in the global business-to-business stablecoin market, which is currently valued at around $36 billion.