Ripple has agreed to acquire Rail, a Toronto-based payments platform, for $200 million. This acquisition aims to enhance Ripple's stablecoin payment services by allowing for the provision of virtual accounts and streamlining operations. Monica Long, Ripple's president, emphasized the significance of stablecoins in modern finance and highlighted the partnership's goal of facilitating exchanges between stablecoins and traditional payment formats. Rail, equipped with compliance features and partnerships with over 12 banks, will support the adoption of Ripple's RLUSD stablecoin and XRP in payments. Following this acquisition, Ripple has also filed for a banking license, signaling a deeper integration into the traditional banking ecosystem. XRP's market price rose 4.3% to $3.07 on the announcement.

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