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.
Merchant Services & Payment Systems
Under the partnership, RLUSD will be integrated into Notabene Flow, which is Notabenes B2B stablecoin payments platform.
The companies will also explore how Notabenes 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. Notabenes 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.