Ripple and Convera announced on Tuesday that they have formed a partnership to improve global payments using stablecoin and blockchain infrastructure, underscoring the increasing role of stablecoins, those digital tokens with values pegged to fiat currencies, such as the U.S. dollar, in mainstream cross-border financial transactions.
“With the growing presence and use of digital currencies such as crypto and stablecoins, Convera has maintained a thoughtful approach by listening to what our customers want while watching this space continue to mature,” Convera CEO Patrick Gauthier quipped in a statement. “Ripple is a clear leader in the crypto space and a natural fit for Convera.”
The partnership brings together Convera’s commercial payments and foreign exchange network with Ripple’s blockchain-based liquidity and settlement infrastructure. According to Convera, the solution is intended to enable businesses to transfer funds more quickly and reliably, particularly in regions where traditional payment systems can be slow or expensive.
Convera, formerly known as Western Union Business Solutions, is a fintech company that operates in more than 140 currencies across roughly 200 countries. It was acquired in 2021 for $910 million.
The two companies said they plan to use a “stablecoin sandwich” model, where transactions start in fiat currency, settle through a regulated stablecoin, and conclude in fiat again. This approach allows enterprise users to benefit from blockchain-based settlement without directly holding or managing digital assets.
 
Convera manages the customer-facing payment experience, while Ripple supplies the underlying liquidity, along with on- and off-ramping and the cross-border settlement infrastructure.
“Enterprises are increasingly looking for faster, more flexible ways to move money globally without taking on the complexity of digital assets directly,” Ripple’s SVP of Product Aaron Slettehaugh opined.
Stablecoins Mark the “ChatGPT Moment” for Corporate Crypto Adoption
The Ripple-Convera deal underscores a broader industry view that stablecoins are evolving from crypto-native trading instruments into core components of mainstream corporate payments infrastructure. Ripple boss Brad Garlinghouse recently said that stablecoins could mark a turning point for enterprise crypto adoption, calling them the sector’s “ChatGPT moment.”
He added that corporate leaders—including CFOs and treasurers at major companies—are increasingly exploring how to integrate stablecoins into their operations, particularly for payments.
Visa indicated in January that it was expanding stablecoin settlement for U.S. banks, while Mastercard agreed earlier this month to acquire stablecoin infrastructure firm BVNK for up to $1.8 billion.
Meanwhile, industry data points to rising interest, with stablecoins processing over $33 trillion in transaction volume last year. Bloomberg Intelligence estimates that these flows could expand at an annual rate of about 80%, potentially reaching $56.6 trillion by 2030.
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