"Convera processes roughly $190 billion in annual transaction volume across 200 countries and 140 currencies, making this one of the largest payment networks to ever integrate with Ripple's infrastructure."
"The partnership is built around what both companies are calling a 'stablecoin sandwich' settlement model, starting in fiat currency, settling through Ripple's regulated stablecoin RLUSD on the XRP Ledger, and arriving in fiat on the other end."
"When a company of this size integrates with Ripple's infrastructure, the scale of money that could eventually flow through blockchain-based settlement rails is significant."
Convera, a major player in cross-border payments, has partnered with Ripple to utilize stablecoins for transactions. This partnership follows Western Union's earlier skepticism towards Ripple's technology. Convera processes $190 billion annually across 200 countries and 140 currencies, making it a significant integration for Ripple. The partnership employs a 'stablecoin sandwich' model, starting and ending in fiat currency while using Ripple's regulated stablecoin RLUSD for settlement. This collaboration raises questions about its potential impact on XRP's price recovery.
Read at 24/7 Wall St.
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