Ripple is set to acquire the stablecoin payments platform Rail for $200 million as part of its strategy to enhance its stablecoin infrastructure. This move follows significant investments in the cryptocurrency sector and aims to bolster the utility of its own stablecoin, RLUSD, which launched last year.

Ripple is set to acquire stablecoin payments firm Rail for $200 million to enhance its RLUSD stablecoin offerings. The Toronto-based company provides virtual accounts and automated systems, allowing seamless digital asset transactions, and the deal is expected to close in the fourth quarter of this year. With this acquisition, Ripple aims to strengthen its position in the expanding stablecoin ecosystem.