Ripple has made an investment in Notabene, a regulated on-chain transaction network, according to a Thursday announcement. The tie-up will make it possible to expand RLUSD's usage in institutional stablecoin payments.
Under the partnership, RLUSD will be integrated into Notabene Flow, which is Notabene’s B2B stablecoin payments platform.
The companies will also explore how Notabene’s transaction authorization and compliance infrastructure can complement Ripple Payments.
Notabene boasts a rather impressive network of 2,300 institutions across over 100 jurisdictions.
The company supports more than $2 trillion in annualized transaction volume and provides tools for compliance, counterparty verification, and transaction authorization.
Part of mainstream finance
The collaboration comes as financial institutions increasingly explore stablecoins for payments. However, they keep facing challenges around regulatory requirements, risk management, and so on. Notabene’s infrastructure is designed to address these issues.
Jack McDonald, SVP of stablecoin at Ripple, has made it clear that the efficiency of settlement rails is not sufficient enough to make sure that stablecoins become fully mainstream. He added that more factors, such as compliance and identity verification, remain key factors for broader institutional adoption.
Ripple’s dollar-backed stablecoin has been expanding across financial platforms, with its market cap approaching $2 billion earlier this year. The partnership with Notabene adds another notable integration for the stablecoin.
Notabene CEO Pelle Braendgaard said institutions have largely moved beyond evaluating whether to use stablecoins and are now focused on implementing them in a compliant manner.
Ripple and Notabene said they plan to continue expanding Notabene Flow’s availability to financial institutions globally.
Dan Burgin
U.Today Editorial Team
