Ripple Partners With Convera to Expand Stablecoin-Based Cross-Border Payments

Ripple Labs has partnered with Convera to enhance cross-border payments using stablecoin and blockchain infrastructure. Convera, previously known as Western Union Business Solutions, operates across more than 140 currencies in nearly 200 countries and territories and was acquired for $910 million in 2021.

Convera CEO Patrick Gauthier said the company has taken a measured approach to digital currencies while monitoring growing demand for crypto-based payment solutions. He described Ripple as a natural partner as the adoption of stablecoins continues to expand.

Stablecoin Sandwich Model Aims to Simplify Global Transfers

The partnership will use a “stablecoin sandwich” model, where payments begin and end in fiat currencies while stablecoins facilitate transfers in the middle. Ripple, known for supporting the XRP Ledger and issuing the RLUSD stablecoin, has recently expanded its network through new partnerships and initiatives focused on programmable cross-border settlements.

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