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- Ripple partners with Convera to enable stablecoin-based global payment solutions.
- Convera handles client payments while Ripple powers liquidity and settlement rails.
- The stablecoin sandwich model enables faster cross-border transfers without crypto exposure.
Ripple has entered a strategic partnership with Convera to expand crypto-enabled payment services. The deal focuses on stablecoin settlement and cross-border payments for businesses operating across multiple global markets.
Under the agreement, Convera will manage the full payment flow for its customers. Ripple will provide infrastructure for liquidity, settlement, and currency conversion. The system will support faster transactions across international corridors.
The collaboration uses a structure called the “stablecoin sandwich” model. Payments begin and end in fiat currencies. Stablecoins are only used during the settlement phase.
This design allows businesses to avoid direct exposure to crypto assets. At the same time, it uses blockchain technology to improve speed. It also reduces friction in cross-border transfers.
Ripple Deal Supports Convera Growth Plans
Patrick Gauthier said the company has taken a careful approach toward digital currencies. He stated that customer demand has guided its strategy. He also noted the importance of choosing a reliable partner.
Gauthier described Ripple as a strong fit for this expansion. He said the partnership supports long-term growth plans. He added that both firms aim to deliver better payment options globally.
Convera was separated from Western Union in 2021. The transaction involved investors such as Goldfinch Partners and The Baupost Group. The deal was valued at $910 million.
Since then, Convera has grown into a major B2B payments provider. It processes over $170 billion in annual volume. The firm operates in more than 200 countries and territories.
The company supports over 140 currencies. It serves more than 30,000 clients worldwide. These include small businesses, institutions, and nonprofit groups.
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For Ripple, the partnership adds another enterprise client. The company has expanded its platform through several acquisitions. These include Palisade and Rail.
The firm has also acquired Hidden Road and GTreasury. The acquisitions are a step towards developing a unified financial infrastructure.
Ripple Model Reduces Delays in Cross-Border Transfers
Aaron Slettehaugh, a representative, mentioned that businesses are looking for faster ways to send money. He further mentioned that many businesses are looking to avoid digital assets altogether. The partnership solves this problem.
Aaron Slettehaugh further mentioned, “This model will provide businesses with more flexibility and allow them to have more control over their global payments.” The focus remains on simplifying complex processes.
The partnership will help regions with slow banking systems. There are regions where corridors are slow due to intermediaries. The intermediaries are a result of a traditional system. The intermediaries will be reduced with a blockchain-based system.
The firms have not revealed a specific stable coin for this system. The firms have not revealed a specific time frame for this system either.
The partnership is a result of a shift in global payments. Firms are looking at a hybrid system for fiat and blockchain. Ripple and Convera are now a part of this shift in global payments.
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