Breaking: Ripple is preparing to acquire a major platform for digital currencies
Blockchain company Ripple is about to acquire stablecoin company Rail for $200 million, according to a report released on Thursday by Reuters.
This move will help the San Francisco-based company expand its presence in the booming sector.
The report states that the deal is expected to be completed in the fourth quarter of the year.
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The Toronto-based platform, supported by players like Galaxy Ventures, focuses on providing infrastructure for the use of stablecoins in cross-border payments.
As reported by U.Today, Ripple also acquired the major brokerage Hidden Road for $1.25 billion earlier this year, making it one of the largest acquisitions to date.