Overview
- Cross River announced the integration with Ripple on Thursday that adds Ripple USD (RLUSD) to the bank’s Core Operating System so fintech partners can access the stablecoin through the same platform and API they use for ACH, wires and real-time payments.
- The integration exposes RLUSD transactions to the XRP Ledger, which Cross River and Ripple say settles in three to five seconds and costs a fraction of a cent, enabling round‑the‑clock cross‑border liquidity and faster treasury flows.
- RLUSD is issued under a New York trust charter and is reported to be backed 1:1 by cash, U.S. Treasuries and cash equivalents, which Cross River and Ripple cite as the institutional framework for regulated banking use.
- The move fits CRB Group’s push to bundle crypto, lending, payments and cards on one platform after the holding company raised $50 million in March to expand embedded‑finance capabilities.
- Fintechs will not need to run separate crypto systems to use RLUSD, which could cut integration time and settlement latency and may change how businesses move funds and settle obligations across borders.