Ripple has announced the integration of virtual IBANs for Euro and British Pound into its payment platform. This expansion aims to create alternatives to traditional banking systems.
Launch of Virtual IBANs
Ripple has integrated virtual IBANs for EUR and GBP into its payment platform, marking a significant step in creating alternatives to legacy financial systems. This will allow institutional clients to access virtual bank accounts without going through traditional financial intermediaries.
New RLUSD and FX Functions
The new partnership between Ripple and OpenPayd enables users to mint and burn RLUSD, optimizing currency conversion and making transactions more efficient. The real-time FX function and automatic conversion of fiat into stablecoins through Ripple's API infrastructure provide fast and transparent payment processing.
Prospects and Conclusion
Industry observers note that the partnership represents a structural shift in cross-border payment transactions. The enhanced virtual account functionality and integration of programmable liquidity position Ripple as a leading player in financial services.
The merging of Ripple and OpenPayd technologies demonstrates a commitment to establishing a modern financial ecosystem capable of competing with established systems like SWIFT.
