Ripple has completed its $200 million acquisition of stablecoin platform Rail.
TL;DR
Ripple has finalized its $200 million acquisition of stablecoin platform Rail, announced in August. The deal aims to boost Ripple's digital asset payment infrastructure by integrating Rail's technology for enhanced operational efficiency.
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On December 12, according to Cointelegraph, Ripple has officially completed its $200 million acquisition of stablecoin platform Rail.
In August of this year, Ripple announced that it had agreed to acquire Rail, a global stablecoin-based payments platform, for $200 million.
Through this acquisition, Ripple and Rail will jointly develop stablecoin payment solutions, aiming to enhance Ripple's position as a "digital asset payment infrastructure." Ripple Payments currently possesses a broad payment network, digital asset liquidity, and over 60 licenses for compliant management of customer payment processes. Rail's virtual accounts and automated back-office infrastructure will further improve Ripple's operational efficiency.