What to know:
- Ripple invests in Notabene to expand regulated RLUSD payments for global enterprises.
- Notabene Flow will add RLUSD to a regulated network handling over $2 trillion yearly.
- The firms will explore trusted payment authorization tools to support Ripple Payments.
Ripple has made a strategic investment in Notabene. The deal will add RLUSD to Notabene Flow, its business-to-business stablecoin payment platform. Both companies aim to expand regulated stablecoin payments for enterprises under the announced partnership.
However, Notabene announced the investment in an official press release, Ripple is set to get access to the infrastructure that is associated with digital asset organizations and created for regulated on-chain payments. Notabene said its network processes more than $2 trillion in annualized transaction volume.
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How Notabene Flow Will Strengthen RLUSD Payment Utility
RLUSD is supposed to be accessible for institutional customers via Notabene Flow after the integration is completed.
The platform allows for making stablecoin payments from one company to another while providing information that is necessary for approval of transactions before the funds move. Notabene hopes that this will increase the utility of the stablecoin among their institutional customers.
The firms will explore the possibility of using the payment authorization process in order to augment the existing Ripple Payments. This process helps regulated firms to identify the counterparty and to understand the reason for transferring the funds before the transfer proceeds.
Ripple senior vice president of stablecoin Jack McDonald linked the investment to enterprise compliance. He said suitable infrastructure has remained a long-standing barrier for companies moving money internationally at scale.
McDonald referred to Notabene as a source of the necessary compliant technology that will facilitate such payments.
“Together we’re helping build the compliant infrastructure institutions need to move value at global scale while expanding the utility of RLUSD.” Jack added.
Notabene Supports Faster RLUSD Transfers
Notabene’s co-founder and CEO Pelle Braendgaard mentioned uncertainty regarding transaction details on the part of organizations planning to utilize stablecoin technology.
According to him, institutions have to know the recipient of the funds and the reason for making the payment. Moreover, they have to consider ways to authorize each transaction according to the existing procedure.
Braendgaard noted that Notabene resolves these issues by means of its relationship with regulated institutions. Besides, he mentioned that cooperation between RLUSD and Ripple’s global payment network may allow businesses to go beyond test programs.
The combined infrastructure may provide an opportunity to connect more counterparties and make more transfers faster.
Why Notabene Is Adding RLUSD to Its Payment Platform
The partnership allows Ripple to access Notabene’s network without any acquisition. At the same time, Notabene receives an enterprise-oriented stablecoin to complement its business payment infrastructure.
RLUSD has managed to get institutional integration prior to the scheduled implementation in Notabene’s Flow platform.
Interest has also followed BNY Mellon’s plan for a 24-hour settlement system serving the United States Treasury market. However, BNY Mellon’s project is separate from Ripple’s investment in and partnership with Notabene.
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