New Jersey-based Cross River Bank has partnered with Ripple to integrate its USD-backed stablecoin, RLUSD, directly into its banking infrastructure. The partnership allows commercial clients to settle transactions on the XRP Ledger in 3 to 5 seconds for a fraction of a cent alongside traditional payment methods.
Banking Integration and Payment Rails
Cross River is embedding RLUSD into its proprietary Core Operating System, which links financial services directly with payment networks. The setup gives payment providers access to RLUSD through a single API connection, allowing businesses to move funds between US dollars and RLUSD, manage 24/7 treasury transfers, and conduct cross-border settlements. Clients will also retain access to standard banking services, including ACH, wire transfers, and real-time payments on the same platform. The service is currently available in select US states.
Commenting on the partnership, Markus Infanger, SVP of RippleX at Ripple, noted that stablecoins transform payments by becoming part of existing banking infrastructure. He added that combining Cross River's regulated platform with the XRP Ledger makes it easier for fintechs to move money in real time across borders while keeping the business experience simple.
Global Institutional Adoption for RLUSD
The integration comes amid growing international adoption for RLUSD as global markets turn to dollar stablecoins. Earlier this week, Standard Chartered launched custody support for RLUSD through its DIFC branch in Dubai. The bank is also collaborating with Ripple and LMAX Group to allow RLUSD held in custody to serve as eligible trading collateral without moving tokens between venues.
In July, Ripple introduced Ripple Mint, a dedicated platform allowing institutions to mint, redeem, and manage RLUSD across supported blockchains. Regulatory approvals have also advanced globally, with Japan's Financial Services Agency (JFSA) approving the token for local use through SBI VC Trade, mirroring broader trends where Japan megabanks complete stablecoin pilots.
Key Takeaways
- Cross River Bank integrates RLUSD into its Core Operating System via a single API connection.
- Settlement on the XRP Ledger takes 3 to 5 seconds at a fraction of a cent per transaction.
- Combines RLUSD transfers with traditional rails including ACH, wire transfers, and real-time payments.
- Extends prior adoption milestones with Standard Chartered in Dubai and JFSA approval in Japan.
Why It Matters
Embedding RLUSD directly into a regulated US bank like Cross River marks a significant shift from isolated crypto exchanges to mainstream financial rails. By bridging 24/7 real-time blockchain settlement with established ACH and wire networks, financial institutions can eliminate liquidity friction and settlement delays. Market participants should monitor regulatory rollouts across remaining US states and watch whether major fintechs adopt RLUSD for institutional margin collateral.
