Ripple to Buy Stablecoin Payments Firm Rail for $200M to Boost RLUSD

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Ripple is buying Rail, a stablecoin payments platform, for $200 million, the firm said on Thursday. The deal is likely to close in the fourth quarter of this year, the statement said. Rail is a Toronto-based payments platform backed by Galaxy Ventures and Accomplice. The Rail acquisition is a way for Ripple to delve deeper into the fast-growing stablecoin ecosystem after launching its RLUSD stablecoin. The deal comes after it was reported that Ripple had offered to buy stablecoin giant Circle fo...