DriveWealth, the brokerage infrastructure provider behind investing apps for more than 100 partners, is integrating Ripple's $RLUSD stablecoin on the XRP Ledger for settlement. The rollout st
DriveWealth, the brokerage infrastructure provider behind investing apps for more than 100 partners, is integrating Ripple's $RLUSD stablecoin on the XRP Ledger for settlement. The rollout starts in Europe, with the US planned next.
@DriveWealth is also adding @Ripple's cross-border payments product and custody services, and is exploring equity financing through Ripple Prime. Ripple's press release describes the package as covering stablecoin settlement, payments, custody and equity financing.
According to Ripple's announcement, the settlement integration will use $RLUSD on the XRP Ledger (XRPL) alongside Ripple's mint and burn capabilities. DriveWealth is also integrating Ripple Payments to support cross-border acceptance of funds from its global partners.
On custody, DriveWealth is working with Ripple to support its digital asset needs in Europe, with plans to expand to additional markets over time. Separately, DriveWealth and Ripple Prime are exploring equity financing opportunities through Ripple Prime's Delta One business, which Ripple says covers US equities and equity derivatives.
The exploratory equity financing element is less settled than the other components. DeFi Prime noted that the release does not tie custody expansion to the US settlement plan, so partners cannot assume both products will reach each market at the same time.
The aim is to narrow the gap between extended-hours trading and slower bank funding. FinanceFeeds reported that the integration is designed to let clients fund collateral accounts outside conventional banking hours. DriveWealth supplies brokerage infrastructure to fintechs, digital wallets and financial institutions that offer access to US markets, and its European affiliate is MiFID II licensed to provide securities trading and custody services across the European Economic Area, according to the same report.
"We've already enabled 24/5 trading; now we need the funding to match, so clients can move with the markets instead of waiting for them," said DriveWealth CEO Naureen Hassan in the announcement.
The companies intend for clients to fund and manage collateral accounts with stablecoins that can be converted to cash in near real time, which could reduce the capital held idle while awaiting traditional bank transfers, CryptoSlate reported.
No timeline has been given for the US phase of the settlement rollout.
FinanceFeeds: DriveWealth Taps RLUSD to Fund Accounts Outside Bank Hours
