Ripple, Convera enhance cross-border payments

Ripple Labs has announced a strategic partnership with Convera, formerly Western Union Business Solutions, to improve global payment services. This collaboration will leverage stablecoin and blockchain technology to facilitate faster and more efficient cross-border transactions. Convera, which operates in approximately 200 countries and handles over 140 currencies, sees this as a natural progression to meet customer demand for digital currency solutions. The partnership aims to offer enterprises a more flexible way to move money internationally, utilizing a 'stablecoin sandwich' model that begins and ends in fiat currency.