Ripple Secures Strategic Acquisition to Boost Payment Infrastructure
Main Idea
Ripple is acquiring Rail for $200 million to enhance its payment infrastructure and expand its stablecoin RLUSD, leveraging Rail's extensive network and transaction capabilities.
Key Points
1. Ripple is investing $200 million to acquire Rail, a company that enables businesses to accept cryptocurrency payments via a single API interface.
2. Rail processes $10 billion in annual transactions and partners with over 12 banks across multiple regions including Europe, the UAE, India, Brazil, the USA, and Canada.
3. The acquisition is expected to boost the adoption and market share of Ripple's stablecoin, RLUSD, on the XRPL platform.
4. Rail supports multiple cryptocurrencies such as BTC, ETH, USDC, USDT, EURC, and DAI, with USDC operating on three networks and USDT on Ethereum and Tron networks.
5. This strategic move aims to enhance Ripple's payment infrastructure and potentially influence the value of XRP Coin.
Description
Ripple initiates a major expansion with strategic acquisitions. Acquires Rail to enhance global payment infrastructure. Continue Reading: Ripple Secures Strategic Acquisition to Boost Payment Infrastructure The post Ripple Secures Strategic Acquisition to Boost Payment Infrastructure appeared first on COINTURK NEWS .
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