Ripple Taps Convera in Bid to Expand Institutional Stablecoin-Powered Payment Rails

Global payments firm Convera has entered a strategic partnership with blockchain company Ripple to launch crypto-enabled payment and treasury services. 

The move reflects growing corporate demand for faster and more flexible cross-border transactions powered by stablecoins.

Key Points

• Convera and Ripple are jointly launching blockchain-powered cross-border payment and treasury services for businesses.
• The model uses a “stablecoin sandwich,” with fiat at entry and exit and stablecoins used only during settlement to reduce volatility risk.
• Convera will handle customer-facing payment operations while Ripple provides blockchain-based settlement, liquidity, and infrastructure support.
• The partnership aims to deliver faster and more flexible global payments for enterprises without requiring direct digital asset management.

Partnership Targets Faster Global Payments

Specifically, the partnership combines Convera’s global payments infrastructure with Ripple’s blockchain technology to streamline international money movement for businesses.

Under the agreement, Convera will manage the end-to-end payment experience, ensuring continuity and ease of use for customers. Meanwhile, Ripple will provide the underlying blockchain infrastructure, including liquidity provisioning and settlement services.

A key feature of the solution is the so-called “stablecoin sandwich” structure. Transactions are initiated and completed in fiat currency, while stablecoins are used during the settlement phase. This approach reduces exposure to crypto volatility while still enabling faster and more efficient cross-border transfers.

Commenting on the partnership, Convera CEO Patrick Gauthier said the company has been closely tracking growing demand for digital currencies and sees Ripple as a natural fit to meet evolving customer expectations.

Ripple SVP of Product Aaron Slettehaugh echoed this view, noting that enterprises increasingly want faster and more flexible payment solutions without the complexity of directly managing digital assets.

Scale and Infrastructure Underpin Rollout

The partnership is supported by Convera’s extensive global payments network, which processes approximately $190 billion in annual transaction volume.

For context, its network includes more than 50 banking partners and over 500 accounts worldwide. In addition, it supports transactions across more than 200 countries and in over 140 currencies.

Given this scale, the collaboration is well-positioned to address gaps in regions where traditional banking options are limited. Consequently, businesses operating in underserved corridors may see the greatest benefits.

Stablecoins Gain Corporate Traction

This partnership also comes at a time when stablecoins are gaining traction among large corporations. Industry leaders are increasingly viewing them as a practical tool for modern finance.

Last week, Brad Garlinghouse, CEO of Ripple, described stablecoins as a “ChatGPT moment” for the crypto sector in an interview with Fox Business. He noted that executives and board members are actively exploring how to integrate stablecoins into their financial strategies.

He also cited figures from a Citibank analyst estimating that stablecoin transactions reached $33 trillion last year, underscoring their expanding role in global finance. 

Looking ahead, projections suggest even greater expansion. According to Bloomberg Intelligence, stablecoin flows could climb to $56.6 trillion by 2030.

Competitive Landscape and Ripple’s Expansion

Despite rapid growth, the stablecoin market remains highly concentrated, with roughly 90% of volume dominated by Tether (USDT) and USD Coin (USDC).

Ripple is positioning itself more aggressively within this ecosystem following the launch of its own stablecoin, RLUSD, in late 2024. According to CoinGecko, RLUSD has since entered the top ten by market capitalization, surpassing $1.4 billion.

In parallel, the company has also expanded its capabilities through strategic acquisitions. It acquired Hidden Road, now known as Ripple Prime, for $1.25 billion. It also purchased GTreasury, rebranded as Ripple Treasury, for $1 billion.

According to Garlinghouse, both acquisitions are performing ahead of expectations in early 2026. He also noted that Ripple Prime has significantly increased its revenue run rate since the deal.