Ripple has announced a $200 million acquisition of Toronto-based payment platform Rail, marking a major step in its stablecoin expansion strategy. The deal is set to close in Q4 2025, pending regulatory approvals, and positions Ripple to strengthen its RLUSD stablecoin operations amid growing demand for regulated crypto payments.
Rail, backed by Galaxy Ventures and Accomplice, is a key player in the B2B stablecoin payments space. The company claims it will soon process nearly 10% of the $36 billion global volume by leveraging tokenized dollars to drastically reduce cross-border transaction times from days to just hours.
This acquisition comes at a pivotal moment. The United States recently passed the GENIUS Act, a historic move establishing the country’s first regulatory framework for dollar-backed cryptocurrencies. The SEC also issued new accounting guidance for stablecoin issuers. With this legal clarity, companies like Ripple are racing to ensure compliance while scaling operations in a market projected to hit $2 trillion by 2028.
Ripple President Monica Long emphasized that Rail will help RLUSD attract more institutional users by offering a secure and regulated payment interface across Canada, the U.S., and fast-growing emerging markets. The acquisition not only extends Ripple’s infrastructure footprint but also enhances its ability to serve corporate clients looking for compliant digital dollar solutions.
This deal adds to Ripple’s recent buying spree. In April, it announced a $1.25 billion agreement to acquire Hidden Road, a multi-asset prime broker specializing in liquidity and custody solutions. Ripple has also partnered with Bank of New York Mellon for RLUSD reserve custody and filed for a U.S. banking license in July 2025, signaling its push toward deeper regulatory alignment.
RLUSD, Ripple’s U.S. dollar-backed stablecoin, launched in December 2024, has already surpassed $500 million in circulating supply. While the stablecoin market is still led by USDT and USDC, Ripple’s growing regulatory presence and strategic acquisitions suggest RLUSD is rapidly gaining ground.
