Aiming to expand the usage of its RLUSD stablecoin, Ripple is acquiring Canadian payments firm Rail in a $200 million deal.
Ripple has announced its acquisition of Toronto-based payment platform Rail for $200 million, marking a significant move to boost the adoption of its newly launched stablecoin, RLUSD. The deal, expected to close by the end of 2025, reflects Ripple's ambition to become a stronger player in the growing stablecoin market.
Rail has previously received backing from major investors like Galaxy Ventures and Accomplice. This acquisition follows Ripple's unsuccessful attempt to acquire stablecoin giant Circle for an estimated $4 to $5 billion. Despite that, the company continues to pursue aggressive expansion within the stablecoin space.
Ripple President Monica Long stated that the Rail acquisition would position the company at the forefront of blockchain-based payments, highlighting stablecoins as a key element not only for crypto but for the broader financial system. With Rail’s technology, RLUSD is expected to be integrated into more platforms, enabling faster and more efficient usage globally.
