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Blockchain-based payments network Ripple said it will work with C2FO to introduce trade finance payments on the XRP Ledger, or XRPL. The two companies plan to build funding and payment capabilities on XRPL to support C2FO Instant Pay, using RLUSD as the payment method so suppliers can receive funds within seconds.
According to Ripple, traditional trade transactions typically take 30 to 90 days for payment to arrive, and even early payments can require several days for bank settlement. The rollout will connect XRPL and RLUSD to C2FO’s working capital marketplace, allowing companies to secure funds more quickly for payroll, inventory and new orders.