Key Highlights
- Convera, the largest non-bank B2B payments firm, has partnered with Ripple to integrate stablecoin-powered settlement into its cross-border payment infrastructure.
- The partnership is built on a “stablecoin sandwich” model where payments begin and end in fiat but settle through regulated stablecoins in between.
- Convera operates across 200+ countries and 140+ currencies, serving over 30,000 business clients globally.
Convera, the Seattle-based global commercial payments company formerly known as Western Union Business Solutions, has entered a strategic collaboration with Ripple to offer crypto-enabled payment and treasury solutions for businesses.
Under this partnership, Convera will handle the end-to-end payment experience for its clients while Ripple provides the underlying infrastructure for liquidity, on/off-ramping, and cross-border settlement. The collaboration is built around what Convera refers to as the “stablecoin sandwich” settlement model, where payments start and end in fiat currency but use regulated stablecoins for settlement in between.
Patrick Gauthier, CEO of Convera, said, “With the growing presence and use of digital currencies such as crypto and stablecoins, Convera has maintained a thoughtful approach by listening to what our customers want while watching this space continue to mature. We knew we needed a trusted, visionary partner that can help us meet our customers where they are in their journey.”
He added, “Ripple is a clear leader in the crypto space and a natural fit for Convera. We look forward to continued success and growth as we roll out these capabilities to customers near and far.”
What Convera brings to the table
Convera was carved out of Western Union in a $910 million acquisition by Goldfinch Partners and The Baupost Group in 2021. It has since positioned itself as one of the world’s largest non-bank providers of cross-border B2B payments, processing over $170 billion in annual volume.
The company operates across more than 200 countries and territories, supports over 140 currencies, and serves more than 30,000 business clients, including small and medium-sized enterprises, educational institutions, financial institutions, law firms, and NGOs. Its CEO, Patrick Gauthier, previously served as the global head of Amazon Pay.
Ripple’s expanding enterprise footprint
For Ripple, this deal adds another institutional name to a growing list of enterprise partners. The company has been aggressively expanding its payments platform in 2026, folding in acquisitions like custody provider Palisade, virtual accounts firm Rail, prime brokerage Hidden Road ($1.25 billion), and treasury software company GTreasury ($1 billion) into a unified infrastructure stack. Ripple Payments has processed more than $100 billion in total volume to date.
Aaron Slettehaugh, SVP of Product at Ripple, said, “Enterprises are increasingly looking for faster, more flexible ways to move money globally without taking on the complexity of digital assets directly. By partnering with Convera, we’re combining a trusted global payment infrastructure with stablecoin-powered settlement to give businesses more control over how and when they move value across borders.”
Why this matters
The collaboration is aimed particularly at payment corridors where traditional correspondent banking options are limited or slow. The stablecoin sandwich model has gained traction across the payments industry in recent months. The basic idea is that businesses on both ends of a transaction never need to touch crypto directly. The blockchain layer sits underneath, replacing multi-hop bank transfers with near-instant stablecoin settlement.
This partnership comes at a time when competition for institutional stablecoin infrastructure is heating up. Stripe completed its $1.1 billion acquisition of Bridge earlier this year. Mastercard added Ripple to its Crypto Partner Program in March, opening access to a network processing over $9 trillion in annual payments. And Ripple itself recently began piloting its RLUSD stablecoin in Singapore’s MAS BLOOM sandbox for cross-border trade finance.
The announcement did not specify which stablecoin would be used for settlement or provide a timeline for when the services would go live for Convera’s clients.
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