Ripple Partners with Convera to Boost Cross-Border Payments Using Stablecoins

Ripple has joined forces with Convera to introduce a new system for cross-border payments using stablecoins. This innovative approach combines Convera's global payment network with Ripple's blockchain infrastructure, enabling businesses to send and receive funds more efficiently.

The partnership leverages the 'stablecoin sandwich' model, which allows payments to start in fiat currency, convert into stablecoins for settlement, and then convert back into fiat at the receiving end. This reduces reliance on multiple intermediary banks, which typically slow down international transfers.