Ripple and Convera Team Up for Stablecoin Cross-Border Payments Revolution

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<a href="https://bbg-news.com/xrp-usd/">Ripple</a> Partners With Convera to Power Stablecoin Cross-Border Payments

Key Highlights

  • Convera, the largest non-bank B2B payments firm, has partnered with Ripple to integrate stablecoin-powered settlement into its cross-border payment infrastructure.
  • The partnership is built on a “stablecoin sandwich” model where payments begin and end in fiat but settle through regulated stablecoins in between.
  • Convera operates across 200+ countries and 140+ currencies, serving over 30,000 business clients globally.

Convera, a Seattle company that used to be called Western Union Business Solutions, is partnering with Ripple. This collaboration will allow businesses to use cryptocurrency for payments and manage their finances more easily.

Convera and Ripple are partnering to streamline international payments. Convera will manage the entire payment process for its customers, and Ripple will provide the technology that handles currency exchange, converts money into and out of digital assets, and settles transactions across borders. This system, called the “stablecoin sandwich,” allows payments to begin and end with traditional currencies, but uses secure, regulated stablecoins to complete the transaction in between.

Patrick Gauthier, CEO of Convera, explained that as digital currencies like crypto and stablecoins become more popular, Convera has been carefully considering how to best serve its customers. They wanted a reliable and forward-thinking partner to help them support customers as they explore these new technologies.

He stated that Ripple is a leading company in the cryptocurrency industry and a great addition to Convera. They anticipate ongoing achievements and expansion as they make these features available to customers worldwide.

What Convera brings to the table

In 2021, investment firms Goldfinch Partners and The Baupost Group bought Convera from Western Union for $910 million. Since then, Convera has become a leading global provider of international business payments, handling over $170 billion each year.

This company works in over 200 countries and supports more than 140 different currencies. They serve over 30,000 businesses, from small startups to large organizations like schools, banks, law firms, and charities. The company is led by CEO Patrick Gauthier, who used to be in charge of Amazon Pay worldwide.

Ripple’s expanding enterprise footprint

This partnership is another step for Ripple as it builds relationships with major institutions. Throughout 2026, Ripple has been rapidly developing its payment system by acquiring several companies, including Palisade (custody services), Rail (virtual accounts), Hidden Road ($1.25 billion – prime brokerage), and GTreasury ($1 billion – treasury software), and integrating them into one comprehensive system.

Ripple Payments has processed more than $100 billion in total volume to date.

According to Aaron Slettehaugh, head of product at Ripple, businesses are seeking quicker and more adaptable methods for international money transfers, but often want to avoid the complexities of using digital currencies directly. The partnership with Convera aims to solve this by blending a reliable global payment system with the speed of stablecoin settlements, giving companies greater control over their cross-border transactions.

Why this matters

This partnership focuses on payment routes where standard bank transfers are difficult or take a long time. A new approach, called the “stablecoin sandwich,” is becoming increasingly popular in the payments world. It allows businesses to complete transactions without directly handling cryptocurrency. Instead, a blockchain system works in the background, enabling almost immediate settlements using stablecoins instead of relying on multiple bank transfers.

This collaboration is happening as more companies compete to build the underlying technology for institutional stablecoins. Stripe recently bought Bridge for $1.1 billion. Mastercard partnered with Ripple in March, giving access to a payment network that handles over $9 trillion each year. Ripple has also started testing its RLUSD stablecoin in Singapore as part of a program focused on improving cross-border trade finance.

The announcement didn’t say which stablecoin would be used for transactions, nor did it mention when Convera’s clients could start using the new services.

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2026-03-31 16:37