Ripple Backs $170B Payment Giant To Move Money Without Crypto Exposure

Ripple has confirmed a partnership with Convera, a major non-bank provider in global B2B payments, to bring stablecoin-enabled cross-border payments to enterprise clients. The collaboration connects Ripple's blockchain infrastructure with Convera's global payment network to improve settlement speed, liquidity, and reliability in international transactions.

What Is The Ripple And Convera Partnership?

Convera and Ripple announced a strategic collaboration to offer crypto-enabled payment and treasury solutions for businesses. Convera will manage the full payment experience for its enterprise clients, while Ripple supplies the underlying infrastructure for liquidity, on- and off-ramps, and cross-border settlement.

Convera processes more than $170 billion in annual transaction volume, making it one of the largest non-bank players in global B2B payments. Integrating Ripple's blockchain-based settlement into that existing network gives the partnership meaningful scale from day one.

Patrick Gauthier, CEO of Convera, pointed to customer demand as the primary driver behind the deal.

"With the growing presence and use of digital currencies such as crypto and stablecoins, Convera has maintained a thoughtful approach by listening to what our customers want," Gauthier said. "Ripple is a clear leader in the crypto space and a natural fit for Convera."

How Does The Stablecoin Sandwich Model Work?

The settlement method at the centre of this partnership is called the "stablecoin sandwich." It is a three-step structure where payments begin in fiat currency, settle through a stablecoin in the middle layer, and arrive at the destination back in fiat.

Here is how the process works in practice:

• The sending business initiates a payment in their local fiat currency
• Ripple's infrastructure converts and moves value through a regulated stablecoin, including Ripple's own RLUSD, as the intermediary layer
• The receiving party collects funds in their local fiat currency at the other end

This structure means businesses never need to hold or manage digital assets directly. The blockchain layer replaces traditional multi-bank correspondent routes, cutting down the number of intermediaries involved and reducing settlement time.

Why This Matters For Businesses In Underserved Corridors

Correspondent banking, the system most international transfers rely on today, remains slow and expensive in many regions. Payments can take several days and pass through multiple banks, each adding fees and potential delays.

The stablecoin sandwich model targets exactly those corridors. By routing settlement through a blockchain layer, transactions can move faster and with fewer touch points, particularly in markets where traditional banking infrastructure is limited.

Aaron Slettehaugh, SVP of Product at Ripple, explained the commercial logic directly.

"Enterprises are increasingly looking for faster, more flexible ways to move money globally without taking on the complexity of digital assets directly," he said. "By partnering with Convera, we're combining a trusted global payment infrastructure with stablecoin-powered settlement to give businesses more control over how and when they move value across borders."

What Role Does RLUSD Play In This Deal?

Ripple's stablecoin RLUSD is positioned as part of the intermediary settlement layer within the stablecoin sandwich structure. RLUSD is a regulated stablecoin issued by Ripple, pegged to the US dollar, and designed for institutional use cases.

However, Ripple and Convera have not disclosed which specific stablecoin or stablecoins will handle all settlement operations at launch. A rollout timeline for Convera's enterprise clients has also not been announced.

Where RLUSD Fits In Ripple's Broader Strategy

This partnership is not the first time RLUSD has featured in an institutional settlement initiative in 2026. Last week, Ripple participated in the Singapore central bank's BLOOM initiative, which tested programmable cross-border trade settlements using both the XRP Ledger and RLUSD stablecoins. That pilot added credibility to RLUSD's positioning as infrastructure for regulated institutional payments.

Ripple also joined Mastercard's Crypto Partner Program this month. That network processes more than $9 trillion in annual payments volume, giving Ripple further access to enterprise payment rails.

Separately, Ripple Prime recently expanded its capabilities through a Hyperliquid integration update, signalling continued product development across its institutional product suite.

What This Partnership Means For Enterprise Payments

The Ripple and Convera deal is a practical step toward making stablecoin settlement a standard option in global B2B payments. By sitting Ripple's blockchain infrastructure underneath Convera's existing $170 billion payment network, businesses gain access to faster cross-border transfers without needing to directly manage digital assets.

The stablecoin sandwich model keeps the experience familiar for corporate finance teams while quietly replacing the slower correspondent banking layer underneath. 

Rollout details and a confirmed stablecoin lineup are still pending. But with Convera's scale, Ripple's expanding institutional partnerships, and RLUSD's growing presence in regulated settlement pilots, the infrastructure for this model is already in place.

Resources

1. Press release by Convera: Ripple Announces Support for Hyperliquid, Expanding Institutional Access to Onchain Liquidity

2. Press release by Mastercard: Mastercard launches new Crypto Partner Program

3. Press release by Ripple 1: Ripple Prime expands institutional DeFi access through Hyperliquid derivatives integration

4. Press release by Ripple 2: Ripple joins Monetary Authority of Singapore’s BLOOM initiative and partners with Unloq to advance programmable settlement infrastructure in trade finance