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XRP Latest Updates: RedotPay and Ripple Connect Digital and Traditional Finance to Revolutionize Money Transfers

XRP Latest Updates: RedotPay and Ripple Connect Digital and Traditional Finance to Revolutionize Money Transfers

Bitget-RWA2025/12/02 04:46
By:Bitget-RWA

- RedotPay partners with Ripple to launch "Send Crypto, Receive NGN," enabling instant crypto-to-Naira conversions via XRP , USDC , and USDT . - The integration targets high-cost traditional remittances (6.49% fees, 1-5 day delays) by offering transparent pricing and near-instant settlements. - Ripple expands Singapore operations with MAS-issued token settlement permissions, aligning with Asia-Pacific's 70% YoY on-chain growth. - RedotPay aims to bridge blockchain and traditional finance by expanding multi

RedotPay and Ripple Join Forces to Advance Cross-Border Payments

RedotPay, a global fintech specializing in stablecoin payments, has teamed up with Ripple to strengthen its international payment services by incorporating Ripple Payments into its platform.

This partnership has enabled RedotPay to introduce the "Send Crypto, Receive NGN" feature, allowing users to swiftly convert digital currencies such as USDC, USDT, BTC, and XRP into Nigerian Naira (NGN) for direct deposit into local bank accounts within minutes. This solution addresses the challenges of conventional remittance systems, which are often plagued by steep fees—averaging 6.49% globally—and slow processing times that can take up to five business days.

According to Chainalysis, the Asia Pacific region is experiencing rapid growth in on-chain stablecoin transactions, fueled by both trading and remittance activities. RedotPay aims to leverage this momentum to expand its reach in these markets.

Enhanced Payment Infrastructure and Cryptocurrency Support

By utilizing Ripple’s cross-border payment network, RedotPay can now offer users transparent fees and near-instant settlements. The service supports a variety of cryptocurrencies, including XRP, BNB, and tokens built on the Ethereum blockchain.

Michael Gao, CEO of RedotPay, described this development as a significant step toward making digital assets as accessible as traditional money. He noted that the integration with Ripple will help the company broaden its global presence and better serve emerging markets.

Jack Cullinane from Ripple highlighted that this collaboration demonstrates how blockchain technology can streamline international payments and minimize transaction friction.

Ripple’s Regulatory Progress in Singapore

Ripple’s recent regulatory achievements in Singapore further reinforce its influence in the digital payments sector. The Monetary Authority of Singapore (MAS) has expanded Ripple’s Major Payment Institution license, granting the company permission to offer token-based settlement services—including XRP and its stablecoin RLUSD—to banks, fintech companies, and crypto businesses in the region.

Fiona Murray, Ripple’s Managing Director for Asia Pacific, emphasized Singapore’s pivotal role as a center for digital asset innovation, noting a 70% year-over-year surge in on-chain activity across the Asia-Pacific region.

RedotPay and Ripple Partnership

Despite these advancements, XRP’s value declined by 5% following the announcement, briefly testing the $2.00 support level as technical indicators pointed to bearish market sentiment.

Expanding Global Payout Solutions

The "Send Crypto, Receive NGN" feature is part of RedotPay’s broader initiative to facilitate multi-currency payouts, building on previous launches for the Brazilian Real (BRL) and Mexican Peso (MXN). The company is targeting digitally savvy users—such as freelancers and remote workers—who need fast and reliable cross-border payment options. By leveraging Ripple’s infrastructure, RedotPay seeks to lower transaction costs and speed up settlements, positioning itself as a vital link between blockchain innovation and traditional financial systems.

Shaping the Future of Digital Remittances

This collaboration highlights the increasing convergence of regulated cryptocurrency services and global remittance demands. As Ripple continues to expand its licensed operations in Singapore, its ability to deliver scalable and compliant payment solutions could accelerate the adoption of stablecoin-based transactions in emerging economies. For RedotPay, this integration marks a strategic move to strengthen its standing in the rapidly evolving fintech sector, where efficiency, security, and accessibility are key priorities.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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