Ripple has agreed to acquire Toronto-based stablecoin payments platform Rail in a deal valued at \$200 million, aiming to strengthen its position in the enterprise stablecoin market and enhance its global payment infrastructure.
The acquisition, announced on 7 August 2025, is expected to finalise by the fourth quarter of the year, pending regulatory approval.
Rail, founded in 2021 and operating as Layer2 Financial, connects stablecoins with traditional banking through a single API, enabling fast and cost-efficient cross-border payments.
The platform already handles more than 10% of global business-to-business stablecoin transactions projected to reach $36 billion in 2025, according to Artemis Analytics.
By integrating Rail’s virtual accounts and automated back-office systems, Ripple will streamline its payment flows and expand access to multiple banking partners.
Rail’s CEO Bhanu Kohli highlighted the company’s track record:
“Over the last four years, Rail built the fastest way to settle business payments internationally using stablecoins. Ripple shares our vision, and together, we’re excited to bring our innovation to the millions of businesses that move money internationally.”
This acquisition builds on Ripple’s aggressive growth strategy, which includes a $1.25 billion purchase of prime brokerage Hidden Road earlier this year and over $3 billion in total investments through mergers and acquisitions.
Ripple recently launched its own stablecoin, RLUSD, which the company sees as pivotal for institutional payments.
Rail’s platform allows customers to transact with stablecoins without holding cryptocurrency directly, offering simpler on- and off-ramps and management of multiple payment types from a single interface.
Monica Long, Ripple’s President, commented,
“Stablecoins are quickly becoming a cornerstone of modern finance, and with Rail, we are uniquely positioned to drive the next phase of innovation and adoption of stablecoins and blockchain in global payments.”
The deal comes after a lengthy legal dispute with the U.S. Securities and Exchange Commission (SEC) concluded.
A 2023 federal ruling found XRP sales on public exchanges did not violate securities laws, although sales to institutional investors did.
Ripple settled with the SEC, agreeing to pay $125 million in penalties, with $75 million later returned under a new settlement agreement.
Ripple is also advancing efforts to obtain a U.S. banking licence, signalling its intent to operate as a regulated financial institution.
In July, BNY Mellon agreed to custody reserves for Ripple’s stablecoin, reinforcing its infrastructure.
Rail’s ability to process stablecoin pay-ins and pay-outs without requiring customers to hold crypto directly may ease traditional businesses’ entry into digital asset payments.
It supports transactions across various assets including Ripple’s RLUSD and XRP, while enabling internal treasury operations and third-party payments through one platform.
Ripple’s acquisition of Rail signals a shift in how stablecoins might be integrated into mainstream finance.
By combining fast settlement capabilities with simplified access to digital assets, Ripple aims to blur the line between traditional banking and blockchain-based payments.
As companies like Rail enable businesses to bypass typical crypto hurdles, the real question becomes how quickly industries will adopt stablecoins at scale—and how regulators worldwide will respond to these new financial pathways.
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