US lender Cross River Bank has signed an agreement with Ripple to integrate the RLUSD stablecoin into its core operating system. Its fintech clients will be able to convert between dollars and RLUSD and use it alongside ACH, wires and real-time payments through one API. Transactions will settle on the XRP Ledger around the clock. The service is currently available only in some US states.

What it means: The deal is another step in stablecoins moving from exchanges into banks. Cross River is known for serving a large number of US fintechs, so adding RLUSD to its system means hundreds of apps can offer stablecoin payments without building their own blockchain infrastructure. The main advantage is settlement at any hour and on any day, which traditional rails do not offer. In Europe the picture is different. MiCA requires authorisation for every e-money token offered in the EU, and ESMA has told providers not to serve unauthorised stablecoins. Greek fintechs therefore cannot simply copy the US model. For the Greek market the interest is mainly as a sign of direction. When European euro stablecoins, such as the one being prepared by the Qivalis bank consortium, go live, Greek banks will face the same question: whether to build them into their services or leave the space to specialised providers. Preparing systems and compliance procedures needs to start before that moment arrives. Banks can begin with internal work such as wallet custody policies, reconciliation for round-the-clock settlement and staff training, none of which depends on a specific token being chosen.

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