Ripple and Convera have announced a partnership focused on enterprise cross-border payments, combining blockchain settlement with stablecoins to improve transaction speed and liquidity. Under the arrangement, Convera will handle the client-facing layer, compliance, foreign exchange execution, and final delivery, while Ripple provides the backend infrastructure for liquidity, conversion, and on-chain settlement. Businesses still send and receive funds in fiat, without needing to directly manage digital assets.
Blockchain settlement is being added behind the existing payment flow
The deal links two established companies in payments and digital asset infrastructure. Convera processes more than $190 billion annually across over 140 currencies for thousands of businesses, while Ripple supplies enterprise-focused blockchain liquidity and settlement tools. The structure lets Convera keep its current customer experience and workflows in place, with blockchain operating in the background. For business users, the payment rail changes, but the front-end process does not need to be rebuilt.
The “stablecoin sandwich” sits at the center of the model
A key part of the partnership is what the companies describe as a “stablecoin sandwich.” Payments start in fiat and end in fiat, but regulated stablecoins are used during the transfer and settlement stage in the middle. Ripple manages conversion, liquidity sourcing, and on-chain settlement in that middle layer. Convera takes care of compliance, FX execution, and delivery to end users. The goal is straightforward: reduce the delays that often come with traditional correspondent banking systems and multiple intermediaries.
Cross-border payments have long been slowed by fragmented banking networks, limited operating hours, and inefficient liquidity distribution across regions. Blockchain-based settlement can run continuously. Based on the companies’ description, the setup is designed to support near real-time settlement while improving liquidity efficiency across markets.
Built for enterprises that want faster payments without handling crypto directly
Convera CEO Patrick Gauthier said the company had been watching market maturity and looking for a partner that matched rising customer demand for digital currency solutions. Ripple’s Aaron Slettehaugh said enterprises increasingly want faster global payments without adding operational complexity. That is the core pitch of the partnership: use crypto infrastructure in the backend while allowing businesses to keep familiar fiat-based workflows.
The companies also pointed to cross-border corridors that remain underserved, where payments are more likely to be delayed by too many intermediaries and restricted settlement windows. If payments can settle close to real time, the period during which businesses are exposed to currency volatility during processing also becomes shorter. The partnership reflects a broader shift toward hybrid financial models that combine traditional finance systems with blockchain infrastructure inside enterprise payment networks.