A significant collaboration aimed at expanding the use of blockchain and stablecoins in global payment infrastructure has been announced. Ripple Labs and Convera have announced a strategic partnership to improve cross-border payments.
According to today’s announcement, the two companies aim to offer faster and more reliable international payment solutions using stablecoin and blockchain infrastructure. Convera, formerly known as Western Union Business Solutions, is a global fintech company that processes transactions in over 140 currencies across nearly 200 countries and regions.
Convera CEO Patrick Gauthier stated that with the increasing adoption of digital assets, the company closely monitors its customers’ needs, arguing that Ripple’s position in the crypto space made this collaboration a natural choice.
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Under the partnership, Convera’s global payments network, foreign exchange (FX) expertise, and customer experience will be combined with Ripple’s liquidity, consensus, and digital asset infrastructure. This aims to enable faster and lower-cost cross-border transfers, particularly in regions where traditional payment channels are limited.
The collaboration is built on a model called the “stablecoin sandwich.” In this model, payments are initiated and completed using fiat currency, while regulated stablecoins are used in the middle of the transaction process.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/ripple-quietly-announced-a-major-partnership-today/