Cross River Bank links $2.4B RLUSD to core banking system

Cross River Bank is adding Ripple’s US dollar-backed RLUSD stablecoin to its core banking platform with XRP Ledger support, giving fintechs a route to stablecoin payments through the same connection they use for conventional banking services.The New Jersey bank announced the partnership on Oct. 15 and says customers can now access RLUSD through one API without deploying blockchain infrastructure. Services are available only in a limited number of US states, which the release did not identify.The arrangement opens a distribution channel for Ripple through a bank that supplies payments infrastructure to other financial businesses. Cross River is extending its existing stablecoin platform, positioning RLUSD as an additional payment rail for fintech customers and payment networks.Dollar and stablecoin payments through one connectionCross River says fintechs can use its proprietary Core Operating System (COS) to move between US dollars and RLUSD, settle cross-border payments and treasury transfers around the clock, and access ACH, wires and real-time payments.The API is the software connection between a fintech and the bank’s services. Cross River handles the integration with the blockc...