Cross River Bank links $2.4B RLUSD to core banking system

According to CryptoSlate, Cross River Bank is integrating Ripple’s US dollar-backed RLUSD stablecoin into its core banking platform with XRP Ledger support. The New Jersey bank announced that fintech customers can access dollar and RLUSD payments through a single application programming interface without needing to deploy blockchain infrastructure. Services are restricted to a limited number of unnamed US states, with transaction volumes and rollout schedules remaining undisclosed.

Cross River stated that its proprietary Core Operating System allows users to transition between US dollars and RLUSD, handle cross-border payments and treasury transfers, and access conventional options like ACH and wires. Adam Goller, the bank’s head of fintech banking, noted that the integration merges stablecoin transfers with existing platforms. Markus Infanger of RippleX described the collaboration as incorporating stablecoins into established banking infrastructure. RLUSD had a market capitalization of approximately $2.4 billion as of October 16, while issuance on the XRP Ledger was reported above $1 billion by the bank.