Can Ripple turn XRPL into infrastructure layer behind stablecoin payments?

The payments market remains the largest avenue for blockchains to expand the DeFi sector. The logic behind this is simple: Stablecoin utility works best when users move them frequently in low-friction transactions. Payments naturally create that environment, as they involve continuous settlement, liquidity movement, and real-world demand for value transfer. In this context, payments are not just a use case for DeFi. Instead, they are the foundational layer through which stablecoins and blockchain networks can achieve mainstream utility. Ripple’s [XRP] recent partnerships reflect this strategy. For context, Ripple’s acquisition of GTreasury last year expanded its reach into corporate treasury management, which is where large companies control cross-border payments. The key detail in the deal is that, by bringing GTreasury under Ripple, the idea is to embed blockchain into the same treasury workflow. However, the key point is that XRP is not the only payment rail. Traditional systems like SWIFT also remain alternative routing options for the 11,500+ banks connected through global banking networks. Fast forward to now, Ripple has launched a new Treasury Management System that brings together SWIFT, XRP, and other third-party providers to improve payment coordination for corporate treasurers. Put simply, it gives companies a single view of their payments and liquidity, while letting them choose between different settlement rails depending on speed, cost, and efficiency. Notably, the timing of this move stands out. Ripple, Visa, and DeFi growth: Is XRPL becoming the next base layer? The TradFi-to-DeFi expansion now looks to be moving into a more mature phase. Recent Visa move highlights this shift. Visa has expanded its stablecoin-linked credit card program in partnership with Bridge, scaling from an initial rollout in 18 countries to plans covering 100+ countries. These cards let users spend stablecoin balances directly at Visa’s global merchant network, which already supports over 175 million merchants worldwide. With such a strong merchant base already in place, stablecoin flows are now entering a new phase of utility, where usage is driven by credit card networks. That’s where Ripple’s recent treasury move starts to become more relevant, as it targets the infrastructure layer where these liquidity flows are actually managed. Looking at Ripple’s native stablecoin, RLUSD’s growth further supports this trend. According to DeFiLlama, RLUSD’s market cap was up nearly 13% year-to-date, as of press time. Moreover, the stablecoin now accounts for around 24% of XRPL’s stablecoin market share, while also rising nearly 7% this month alone. This further reinforces Ripple’s growing on-chain liquidity. Taken together, these developments point to a broader shift. Instead of separate rails competing in isolation, Ripple is moving toward a multi-rail environment where SWIFT, stablecoins like RLUSD, and blockchain networks like XRPL can operate side by side depending on cost, speed, and liquidity needs. This positions Ripple as a key hub in the ongoing TradFi-to-DeFi transition. Final Summary Payments are becoming the core entry point for DeFi adoption, with stablecoins driving transaction flows through existing infrastructure like card networks, banks, and treasury systems. Ripple is positioning itself as a multi-rail hub where SWIFT, XRP/XRPL, and stablecoins like RLUSD coexist.