Ripple invested $200 million to acquire the payment platform Rail and will jointly develop a stablecoin payment solution

ChainCatcher news, according to Ripple's official announcement, Ripple has agreed to acquire the stablecoin-based global payment platform Rail for $200 million.

It is reported that Rail provides payment solutions for financial technology companies, payment service providers, digital banks, and enterprises, including virtual IBANs, named accounts, USD payment channels, and third-party payments, currently having 12 banking partners.

Through this acquisition, Ripple and Rail will jointly develop stablecoin payment solutions, aiming to enhance Ripple's position as a digital asset payment infrastructure. Ripple Payments currently has an extensive payment network, digital asset liquidity, and over 60 licenses for compliance management of customer payment processes. Rail's virtual accounts and automated backend infrastructure will further enhance Ripple's operational efficiency.