Cross River Bank has integrated Ripple's US dollar-backed RLUSD stablecoin into its core banking system, enabling fintechs to process 24/7 cross-border payments via a single API without building blockchain infrastructure. Operating on the XRP Ledger with settlement times of three to five seconds, RLUSD has reached a market capitalization exceeding $2.4 billion. The integration fuels speculation regarding X Money, where Cross River serves as infrastructure provider.
Cross River Bank RLUSD integration
- ▪On October 12, 2026, Standard Chartered launched RLUSD custody for eligible institutional clients through its Dubai International Financial Centre branch
- ▪Cross River Bank's integration of Ripple's RLUSD stablecoin supports the XRP Ledger, offering services initially across a limited number of US states
- ▪On October 15, 2026, New Jersey-based Cross River Bank announced a partnership with Ripple to integrate Ripple's US dollar-backed RLUSD stablecoin into its core banking platform
Stablecoin banking infrastructure approach
- ▪Cross River Bank head of crypto Luca Cosentino detailed bank accounts allowing direct stablecoin transfers from US dollar balances using standardized APIs and automated liquidity
- ▪On November 24, 2025, Cross River Bank launched a Core Operating System-integrated stablecoin payments offering with limited-state availability for approved fintech and enterprise partners
RLUSD market capitalization
- ▪Issuance of Ripple's RLUSD stablecoin on the XRP Ledger exceeded $1 billion as of October 15, 2026
- ▪Ripple's RLUSD stablecoin maintained a total market capitalization of $2.4 billion to $2.5 billion as of October 16, 2026
XRP Ledger settlement speed
- ▪Transactions processed on the XRP Ledger typically settle in three to five seconds with low transaction fees
- ▪The XRP Ledger serves as the underlying blockchain network for RLUSD stablecoins while operating distinctly from XRP, the native asset of the ledger
X Money speculation
- ▪As of October 16, 2026, neither Ripple nor Cross River Bank has confirmed any plans to integrate X Money, tied to Elon Musk's X platform, with Ripple's RLUSD or the XRP Ledger
- ▪Cross River Bank serves as the banking infrastructure provider for X Money, the payment platform associated with Elon Musk's company X
Fintech API payment access
- ▪Cross River Bank enables fintech companies to access Ripple's RLUSD alongside conventional wires, ACH, and real-time payments through a single API without deploying blockchain infrastructure
- ▪The proprietary Core Operating System API of Cross River Bank allows financial technology firms to convert between US dollars and RLUSD stablecoins to settle 24/7 cross-border transactions
Story comments
Loading comments…