Quick overview
- Cross River Bank is integrating Ripple’s RLUSD stablecoin into its core banking stack to enhance payment processing via FedNow.
- The integration aims to accelerate settlement times for business customers, positioning Cross River as a leading participant in the FedNow network.
- Volante Technologies supports this integration by providing a unified payment gateway that connects various payment systems, including FedNow and Ripple’s solutions.
- This partnership is seen as a positive development for the XRP community, highlighting Cross River’s significant role in the evolving financial landscape.
Live XRP/USD Chart
XRP/USD
Cross River processes a s number of business payment flows via FedNow. It is incorporating RLUSD on XRPL into its core banking stack, integrating the ledger into the revenue operations of a high-traffic financial institution.
Cross River Bank is among the most prolific senders on the FedNow network. The announcement is notable because Ripple’s RLUSD stablecoin, powered by the XRP Ledger, is now integrated into the bank’s core banking infrastructure to enable faster payments.
“The integration with the XRP Ledger will allow us to continue speeding up settlement for our business customers,” Cross River said in the October 15 press release.
SMQKE, another crypto researcher, shared the announcement on X, stating that Cross River is “one of Fed Now’s highest volume banks” and that the bank is “plugging XRP directly into its core banking infrastructure.
The researcher connected Cross River’s Fed Now adoption and XRPL integration, portraying the combination as a positive for the XRP community. These reports focus on Volante Technologies (a financial middleware provider) and banks such as Cross River Bank.
Volante provides unified payment gateway software to major banks, linking core banking infrastructure and various payment rails. Volante supports connections to:
The Federal Reserve’s FedNow instant payment service.Ripple’s cross-border payment solutions and XRP settlement rails.
Cross River Bank: Cross River is a leading fintech-focused regulated bank in the U.S. and one of the highest-volume early participants in FedNow.
Cross River partnered with Ripple to integrate RLUSD (Ripple’s U.S. dollar-backed stablecoin) onto the XRP Ledger (XRPL) for settlement operations alongside standard fiat channels (wires, ACH, and FedNow).
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 20 years of working experience in investment trading
www.fxleaders.com