Ripple acquires ‘stablecoin platform’ Rail for $200 million

JOON HYOUNG LEE

Summary

Ripple announced that it has agreed to acquire the stablecoin platform Rail for $200 million.
With this acquisition, Ripple and Rail are expected to provide a comprehensive stablecoin payment solution in the market.
The acquisition process is planned to be completed within the fourth quarter once regulatory and other customary conditions are satisfied.

Ripple, the issuer of XRP, is acquiring the stablecoin platform Rail for $200 million (approximately ₩280,000,000,000).

On the 7th (local time), Ripple announced on its official website, "We have agreed to acquire Rail, a global payment platform based on stablecoins, for $200 million." Ripple stated, "With this acquisition, Ripple and Rail will provide the most comprehensive stablecoin payment solution in the market," and added, "Ripple will further strengthen its position as a leader in digital asset payment infrastructure."

The acquisition is expected to be finalized in the fourth quarter of this year. Ripple noted, "The completion of this acquisition is subject to customary closing conditions, including necessary regulatory approvals."

Ripple plans to continuously expand its stablecoin payment system. Monica Long, President of Ripple, commented, "Stablecoins are quickly becoming the cornerstone of modern finance," and "This acquisition reflects Ripple’s commitment to enabling customers worldwide to move funds when and where they need them."

XRP