RedotPay has partnered with Ripple to expand its stablecoin payment capabilities.
Concurrently, RedotPay is launching its “Send Crypto, Receive NGN” feature and extending multi-market payouts via Ripple’s cross-border payment solution, Ripple Payments.
The new feature allows verified users with local bank accounts to convert digital assets into Nigerian naira (NGN), providing faster and lower-cost payouts.
“Delivering near‑instant, cost-effective NGN payouts is a significant milestone,”
said Michael Gao, CEO and Co‑Founder of RedotPay.
“RedotPay is building stablecoin-powered payments that make digital assets as easy to use as local currency, where users can send XRP or stablecoins securely and receive NGN within minutes. The integration of Ripple Payments will expand RedotPay’s global reach and better serve the evolving needs of our users, we will remain focused on making digital finance accessible, secure, and efficient for everyone.”
Global remittances remain slow and expensive, with average fees of 6.49% and settlement times often taking one to five business days.
Demand for digital alternatives has increased, particularly in the Asia Pacific region, which has seen the fastest growth in on-chain stablecoin activity, driven mainly by trading and remittances.
RedotPay’s integration with Ripple Payments addresses these issues, offering enterprise-grade blockchain speed, reliable payout infrastructure, transparent pricing, and near-instant settlement.
The feature supports a wide range of cryptocurrencies including USDC, USDT, BTC, ETH, SOL, TON, S, TRX, XRP, and BNB, with Ripple’s RLUSD to be supported in the future.
Jack Cullinane, Head of Commercial, Asia Pacific at Ripple, said,
“Our partnership with RedotPay demonstrates the real-world utility of our licensed payments solution in solving the immense friction of global cross-border payments. Ripple Payments makes sending money across borders faster, more reliable and affordable for consumers and businesses alike.”
Featured image credit: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik
This article first appeared on Fintech News Hong Kong
