San Francisco-based fintech company Ripple has partnered with Convera, one of the world’s largest non-bank commercial payments providers, to bring stablecoin-powered settlement capabilities to enterprise cross-border payments.
The collaboration combines Convera’s global payment network and foreign exchange expertise with Ripple’s blockchain infrastructure, liquidity solutions, and digital asset capabilities. At the core of the collaboration is what both companies describe as a “stablecoin sandwich” model.
Payments are initiated and received in fiat currency by businesses on both ends of a transaction, while a regulated stablecoin handles the settlement layer in the middle. Convera manages the full end-to-end payment experience, while Ripple provides the underlying infrastructure for liquidity sourcing, on- and off-ramping, and cross-border settlement.
Notably, the structure is designed to give enterprise clients the speed and cost advantages of stablecoin settlement without requiring them to hold, manage, or take on the complexity of digital assets directly. For businesses operating in corridors where correspondent banking is slow or costly, the model offers a meaningful operational improvement.
Rationale Behind Move
Patrick Gauthier, CEO of Convera, said the company is taking a measured approach to digital currencies such as crypto and stablecoins, focusing on customer needs as the space continues to evolve. He added that Ripple stands out as a strong leader in the sector, making it a natural partner for Convera.
Aaron Slettehaugh, SVP of Product at Ripple, highlighted the growing demand from businesses for quicker and more adaptable global payment solutions that don’t require direct exposure to digital assets. He explained that the partnership brings together Convera’s established global payments network with stablecoin-based settlement, enabling companies to better manage the timing and movement of funds across borders.
The Broader Picture
The Ripple-Convera tie-up reflects a growing institutional acceptance of stablecoin infrastructure as a legitimate settlement layer in traditional finance. For Ripple, the partnership also reinforces its enterprise positioning at a critical moment.
With the CLARITY Act advancing through Congress and the SEC having clarified how federal securities laws apply to digital assets, the regulatory backdrop for stablecoin-based payment infrastructure is becoming more defined. XRP itself recently stood out as one of the few assets to attract inflows during last week’s broader crypto fund outflow event, reflecting sustained institutional confidence in Ripple’s ecosystem.
Josiah Oluwadare
Temitope Olajide
Evans Kelvin