Ripple Labs has entered a strategic partnership with Convera, a global fintech formerly known as Western Union Business Solutions, to introduce stablecoin-enabled cross-border payment and treasury services for enterprises. The collaboration aims to leverage blockchain infrastructure to deliver faster settlements, improved liquidity, and more flexible financial solutions.
According to the announcement, the partnership combines Convera's extensive global payment network, which deals with over 140 currencies across approximately 200 countries and territories, with Ripple's blockchain and liquidity infrastructure. The core technical model is a "stablecoin sandwich" approach, where payments begin in fiat currency, convert into stablecoins for the settlement layer, and are then converted back into fiat at the receiving end. This structure is designed to shield businesses from crypto volatility while reducing reliance on slow, costly intermediary banks typical in traditional international transfers.
Convera will manage the full customer-facing payment flow, including compliance and user experience, while Ripple provides the backend infrastructure for liquidity sourcing, on- and off-ramps, and cross-border settlement. The service targets payment corridors where legacy financial systems remain inefficient.
"Ripple is a clear leader in the crypto space and a natural fit for Convera," said Convera CEO Patrick Gauthier, who previously led Amazon Pay. Ripple's Senior Vice President of Product, Aaron Slettehaugh, added that enterprises are increasingly seeking faster, more flexible global money movement without directly managing digital asset complexity.
This partnership is part of Ripple's aggressive expansion of its global payments network. Notably, Ripple recently joined the Monetary Authority of Singapore's BLOOM initiative to pilot programmable cross-border trade settlements using the XRP Ledger and its dollar-pegged stablecoin, RLUSD.
