The End of Net-60: How Stablecoins Are Rewiring Supply Chain Finance

NEW YORK, NY – October 27, 2026 – The global supply chain has long been choked by a chronic liquidity crisis masquerading as standard business practice. For decades, businesses have accepted the reality of waiting 30, 60, or even 90 days to be paid for goods and services already delivered. While early payment programs have attempted to bridge this gap, the archaic plumbing of traditional banking has consistently introduced frustrating delays. Now, a newly announced initiative at Ripple Swell 2026 signals a fundamental rewiring of this infrastructure, moving corporate treasury out of the analog age and into the era of instantaneous blockchain settlement.

C2FO, the world’s largest platform for working capital, has partnered with enterprise blockchain provider Ripple to migrate the financing and settlement activity of its new Instant Pay solution onto the XRP Ledger (XRPL). By leveraging RLUSD, Ripple’s U.S. dollar-backed stablecoin, the initiative bypasses the multi-day latency of legacy bank transfers, enabling suppliers to receive funds in seconds.

This is not merely a technological upgrade; it is a critical pivot in how enterprise cash flows are managed. It represents one of the first production-scale integrations of public blockchain rails and stablecoins into mainstream enterprise supply chain finance, moving digital assets firmly out of the realm of retail speculation and into the multitrillion-dollar world of corporate receivables.

The Last Mile of Corporate Liquidity

To understand the gravity of this integration, one must look at the sheer scale of the invoicing arena. C2FO’s core platform has already facilitated more than $250 billion in accelerated payments through dynamic discounting and supply chain finance programs. Yet, solving the agreement phase of an early payment is only half the battle.

Even when a buyer approves an invoice for early payment, the actual movement of funds relies on Automated Clearing House (ACH) networks or wire transfers. These legacy systems are restricted by banking hours, weekend blackouts, and intermediary processing times, meaning a supplier might still wait several days for the capital to hit their account. For a mid-sized manufacturer trying to make payroll or secure raw inventory for a new order, a three-day settlement delay can be just as crippling as a rejected invoice.

“We’ve spent years building a platform that gives businesses more information and control over their working capital,” said Ragui Selwanes, President & COO Americas at C2FO. “The next opportunity is to make the financial infrastructure behind our marketplace as efficient and connected as the experience we’ve created for customers. Working with Ripple and leveraging XRPL, we have built a new model for financing approved receivables that has the potential to broaden access to capital while preserving the relationships and experience our customers already trust.”

By settling transactions on the XRPL—which operates 24/7 and delivers finality in three to five seconds at a fraction of a cent—C2FO Instant Pay effectively eliminates the "last mile" friction of corporate liquidity. Participating institutional capital providers fund the instant payment, allowing suppliers to access their cash immediately while the original invoice terms and due dates remain unchanged for the buyer.

De-risking the Digital Dollar

For corporate treasurers, the historical barrier to blockchain adoption has not been a lack of interest, but a lack of regulatory clarity. Treasurers are inherently risk-averse; they cannot afford to park millions in working capital in assets lacking rigorous oversight. The C2FO and Ripple partnership directly addresses this hesitation by utilizing a heavily regulated, institutional-grade stablecoin.

Ripple’s RLUSD has rapidly gained traction, achieving a market capitalization of approximately $2.6 billion. But more importantly, it has secured the regulatory fortifications required for enterprise trust. Just yesterday, on October 26, Ripple received final approval from the Office of the Comptroller of the Currency (OCC) to establish Ripple National Trust Bank (RNTB). This federally supervised national trust bank will manage the segregated reserves supporting RLUSD and provide fiduciary digital asset custody services, placing the stablecoin’s underlying infrastructure under strict federal oversight.

Coupled with a newly assigned A2 long-term deposit rating from Moody’s and the impending implementation of the OCC’s GENIUS Act rules in January 2027, RLUSD is shedding the regulatory ambiguity that has long plagued the crypto sector. The Bank of New York Mellon (BNY) serves as the primary custodian for the reserve assets, which are backed by short-duration U.S. government assets and cash, ensuring a 1:1 peg with the dollar.

This robust compliance posture is precisely what makes the C2FO integration feasible. As Treasury Secretary Scott Bessent noted at the Swell conference, stablecoins are becoming an increasingly important source of funding within the broader financial system. By utilizing a stablecoin that is subject to both federal and New York state oversight, C2FO is offering corporate clients the speed of decentralized finance without the associated compliance nightmares.

The Public vs. Private Ledger Debate

The introduction of C2FO Instant Pay also reignites a long-standing debate within enterprise blockchain circles: the utility of public versus private ledgers.

For years, major financial institutions have favored permissioned, closed-loop networks for trade finance. JPMorgan’s Onyx division, for example, utilizes a permissioned blockchain-based system for interbank transfers and tokenized collateral. Similarly, legacy consortia like the Marco Polo Network relied on private distributed ledger technology to streamline trade finance processes.

C2FO and Ripple are taking a distinctly different approach by deploying on the public XRP Ledger. This strategy offers unparalleled transparency, broader network effects, and avoids the siloed fragmentation that has stifled adoption in private banking consortia.

“Working capital is a powerful example of where blockchain can make an existing financial market work better. C2FO brings an established marketplace, real commercial activity and demonstrated financing demand,” said Markus Infanger, SVP, RippleX at Ripple. “XRPL is well suited to this use case because it can represent and move financial assets with fast, deterministic settlement and low transaction costs, while RLUSD provides a stable way to settle those transactions. Together with C2FO, this creates an opportunity to address billions of dollars in commercial activity and make approved receivables easier to finance.”

However, relying on public infrastructure requires sophisticated liquidity management. Recent blockchain data reveals that while RLUSD’s total market cap sits at $2.6 billion, Ripple Treasury recently executed a strategic rebalancing, moving a portion of the supply from the XRPL to Ethereum to meet surging institutional demand for collateralized lending on Ethereum-based rails. As a result, the XRPL-native stablecoin capitalization temporarily dipped below $1 billion. This dynamic multi-chain reality underscores the complexity of managing institutional liquidity across different public networks, a challenge Ripple must continuously navigate as Instant Pay scales.

Overcoming the Integration Hurdle

Despite the clear advantages of sub-second settlement, widespread enterprise adoption will not happen overnight. Corporate accounting systems are fundamentally designed for fiat currencies, and integrating stablecoins introduces new complexities regarding classification, valuation, and tax reporting. Furthermore, off-ramping—converting stablecoins back into traditional fiat to pay non-participating vendors or employees—can still introduce friction and fees if not seamlessly integrated into a company's treasury management system.

Ripple is actively attempting to smooth this transition. The company's expanding treasury platform, which combines cash management, forecasting, and tokenized money market funds, is designed to make stablecoins act and feel like traditional commercial banking products. As RLUSD becomes increasingly available on major exchanges like Coinbase and Robinhood, the liquidity pathways for off-ramping are widening, gradually reducing the friction that has historically deterred financial executives.

Ultimately, the partnership between C2FO and Ripple represents a maturing of blockchain technology. It moves past the speculative hype of digital assets to address a tangible, multi-billion-dollar pain point in the real economy. By proving that public ledgers and regulated stablecoins can safely and efficiently clear corporate receivables, this initiative challenges the necessity of the Net-60 payment term and sets a new benchmark for the velocity of global commerce.