Ripple announced two new partnerships targeting global financial institutions. The agreement with DriveWealth, a brokerage infrastructure providing access to US markets, aims to utilize RLUSD
Ripple announced two new partnerships targeting global financial institutions. The agreement with DriveWealth, a brokerage infrastructure providing access to US markets, aims to utilize RLUSD in the money flow behind investment transactions.
DriveWealth is integrating Ripple’s stablecoin infrastructure to use RLUSD on the XRP Ledger for settlement transactions in Europe. The service is planned to expand to the US in a later phase. Cross-border funding via Ripple Payments and digital asset custody services in Europe are also included in the collaboration.
DriveWealth’s provision of investment infrastructure to over 100 partners worldwide expands the network that the integration can reach. However, it has not been announced that all partners will start using RLUSD at the same time.
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Ripple has also formed a strategic partnership with Meritz Securities, a major South Korean brokerage firm. The parties will explore the use of institutional custody and tokenization infrastructure in capital markets.
Meritz’s areas of evaluation include spot ETFs, security tokens, and won-denominated stablecoins. These are not yet publicly available products. While the two agreements expand Ripple’s institutional reach, their direct and measurable impact on the XRP price has not yet been disclosed.
*This is not investment advice.
Continue Reading: Two Major Partnerships from Ripple (XRP) on the Same Day: Big Announcements Have Come
