BlockBeats news, on August 8, Ripple announced that it has agreed to acquire the stablecoin-based global payment platform Rail for $200 million.
It is reported that Rail provides payment solutions for institutions such as fintech companies, payment service providers, digital banks, and enterprises, including virtual IBANs, named accounts, USD payment channels, and third-party payment services, currently having 12 banking partners.
Through this acquisition, Ripple and Rail will jointly develop stablecoin payment solutions, aiming to enhance Ripple's position as a 'digital asset payment infrastructure'. Ripple Payments currently has an extensive payment network, digital asset liquidity, and over 60 licenses for compliance management of customer payment processes. Rail's virtual accounts and automated backend infrastructure will further improve Ripple's operational efficiency.
