Cross River Announces Ripple USD (RLUSD) Integration as XRP Trades Near $1.30

On Oct. 15, Cross River Bank announced a partnership with Ripple to integrate Ripple USD (RLUSD) into its Core Operating System, where fintech customers can now use one API for cross-border payments and treasury transfers. The service supports RLUSD payments alongside ACH, wire and real-time payment services. XRP Ledger transactions settle in three to five seconds for a fraction of a cent and are available around the clock. “Businesses shouldn’t have to rely on several different providers to move money across the globe,” said Adam Goller, Cross River’s head of fintech banking. RLUSD, a U.S. dollar-backed stablecoin, is the payment asset named in the integration. The partnership supports RLUSD transactions on the XRP Ledger, but does not establish additional demand for XRP. XRP traded at $1.30 at 3:29 p.m.

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