Ripple’s Strategic Partnership with OpenPayd: A New Era for Stablecoins in the UK
In a significant development for the blockchain industry, Ripple has announced a groundbreaking partnership with the UK-based banking-as-a-service provider, OpenPayd. This collaboration integrates OpenPayd’s real-time payment infrastructure, multicurrency accounts, and virtual IBANs into Ripple Payments. The result is enhanced instant EUR and GBP settlement capabilities across Ripple’s extensive payout network, which already handles over 90% of daily foreign exchange flows and has processed transactions worth more than $70 billion.
The Acceleration of Ripple’s Stablecoin Endeavors
A central component of this partnership is the Ripple USD (RLUSD), a stablecoin denominated in USD and designed for enterprise use. OpenPayd will facilitate the minting and burning of RLUSD on its platform, allowing clients to seamlessly transition between fiat currencies and digital dollars through a single API.
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Bridging Traditional Finance and Blockchain
OpenPayd CEO Iana Dimitrova described this collaboration as a merging of two previously separate financial systems. By integrating Ripple Payments with OpenPayd’s adaptable and interoperable fiat infrastructure, the partnership provides a comprehensive platform that connects traditional finance with blockchain technology. This integration aims to offer businesses access to stablecoin liquidity on a large scale while simplifying cross-border transactions, treasury operations, and dollar-based processes.
Ripple’s Ongoing Mission to Integrate RLUSD Globally
This announcement signifies Ripple’s ongoing efforts to incorporate RLUSD into regulated markets and payment channels. The stablecoin became part of Ripple Payments on April 2, 2025, rapidly nearing a market cap of $250 million and surpassing $10 billion in trading volume. Jack McDonald, Ripple’s Senior Vice President of Stablecoins, initially highlighted its adoption by remittance firms like BKK Forex and iSend for optimizing treasury and collateral management.
Regulatory Progress and Global Recognition
Ripple’s RLUSD has gained regulatory traction, with the Dubai Financial Services Authority approving it as a crypto token for the Dubai International Financial Centre on June 3. This approval, recognizing the stablecoin’s 1:1 cash backing and oversight by the NYDFS trust company, positions RLUSD as part of a select group of stablecoins that comply with both New York and Dubai standards. This dual compliance is crucial for institutional adoption, according to Ripple.
Expanding Liquidity on the XRP Ledger
Liquidity for RLUSD on the XRP Ledger is on the rise. Ripple’s mid-June market update reported RLUSD’s spot turnover on the ledger reached $500 million in Q2, making it the largest fiat-backed stablecoin by volume on the chain. The report also highlighted its issuance across multiple chains, including XRPL and Ethereum, showcasing developers’ demand for compliant on-chain dollars that can operate across various ecosystems.
Enhancing Fiat Integration in Europe and the UK
The partnership with OpenPayd provides Ripple with a direct fiat on- and off-ramp within the European Economic Area and the UK. These regions accounted for nearly 40% of RLUSD treasury flows in the first half of the year, according to Ripple. McDonald described the partnership as “a decisive step toward real-world adoption of stablecoins at scale,” emphasizing the importance of seamless interoperability between traditional and digital financial systems for institutional users.
While the commercial terms of the partnership remain undisclosed, both companies hinted at a swift implementation. OpenPayd announced that RLUSD minting, redemption, and multicurrency treasury services will be accessible through a single, integrated API later this quarter. Ripple, meanwhile, plans to expand currency corridors as client demand grows.
At the time of writing, XRP is valued at $2.17.
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