Ripple Partners Convera to Boost Cross-Border Payments

TLDR

• Ripple and Convera formed a partnership to enhance cross-border payments using stablecoin infrastructure.
• The companies will use a stablecoin sandwich model that starts and ends transactions in fiat currency.
• Ripple will provide blockchain liquidity and settlement services for Convera’s commercial payment network.
• Convera will manage customer-facing payment flows and foreign exchange operations.
• Ripple Payments now reaches more than 90% of daily foreign exchange markets worldwide.

Ripple and Convera have formed a partnership to expand crypto-enabled payment services for businesses worldwide. The companies will integrate blockchain infrastructure with traditional foreign exchange networks to support cross-border transfers. Both firms said the collaboration will enhance global payments through regulated stablecoin settlement and fiat rails.

Ripple Expands Enterprise Network with Stablecoin Settlement Model

Ripple confirmed it will provide blockchain liquidity and settlement infrastructure for Convera’s commercial payment flows. Convera will manage client-facing services, including foreign exchange execution and treasury operations. The companies said they will apply a “stablecoin sandwich” structure to process transactions.

Under this model, payments begin in fiat currency and convert into a regulated stablecoin during settlement. The funds then convert back into fiat currency before reaching the recipient. Ripple said this approach allows enterprises to access blockchain speed without directly handling digital assets.

Convera CEO Patrick Gauthier said the company monitored digital currency adoption before entering the partnership. He stated, “Ripple is a clear leader in the crypto space and a natural fit for Convera.” He added that Convera focused on customer demand as digital currencies matured.

Gauthier previously led Amazon Pay before joining Convera. Convera operates in more than 200 countries and territories and supports over 140 currencies. The company serves more than 26,000 customers across its commercial payments network.

Ripple acts as the primary advocate for the XRP Ledger and issues the RLUSD stablecoin. The company said Ripple Payments now reaches over 90% of daily foreign exchange markets. Ripple also reported processing more than $95 billion in total payment volume to date.

Convera Integrates Ripple Infrastructure for Crypto-enabled Treasury Services

Convera said the partnership will introduce crypto-enabled payment and treasury services for enterprise clients. The company stated that the service will target corridors where traditional settlement remains slow or costly. Ripple will supply on and off-ramping services as part of the integration.

Aaron Slettehaugh, Ripple’s Senior Vice President of Product, described the enterprise focus. He said, “Enterprises are increasingly looking for faster, more flexible ways to move money globally.” He added that companies want efficiency without managing digital asset complexity.

Ripple has expanded its institutional reach through partnerships and acquisitions. In January, the company reported expanded infrastructure coverage across global FX markets. In March, Ripple confirmed that Banco Genial and AMINA Bank use its system for near-real-time cross-border transactions.

Last week, Ripple joined the Monetary Authority of Singapore’s BLOOM initiative. The program will test programmable cross-border trade settlements using the XRP Ledger and RLUSD. Ripple confirmed participation as part of its continued enterprise engagement strategy.

Convera was formerly known as Western Union Business Solutions. The company was acquired in 2021 for $910 million. The firms announced the partnership on Tuesday and confirmed immediate rollout planning.

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