Overview
- Convera and Ripple announced Tuesday a partnership to add a stablecoin-based settlement lane to Convera’s business payments network.
- A “stablecoin sandwich” will move funds from local currency into a regulated stablecoin for settlement, then back into local currency at the destination.
- Convera will run the customer-facing payment and foreign exchange flow, while Ripple supplies liquidity, on‑ and off‑ramps, and the cross-border settlement layer.
- The deal plugs blockchain rails into Convera’s reach across about 200 countries and more than 26,000 customers, as Ripple cites coverage of over 90% of daily FX markets and more than $95 billion processed.
- The launch follows a wider shift as major payment firms test stablecoins for back-end settlement, with Visa expanding bank stablecoin settlement and Mastercard agreeing to buy BVNK.