The integration begins in Europe before moving to a planned U.S. expansion. By utilizing the XRP Ledger, DriveWealth intends to eliminate the friction inherent in standard T+1 equity settlement cycles. According to DriveWealth CEO Naureen Hassan, the current system forces capital to sit idle over weekends or bank holidays; the new infrastructure allows account funding to operate on a continuous schedule, supporting the firm's existing 24/5 trading capabilities.
In section Cryptocurrency
Ripple and DriveWealth Partner on RLUSD Stablecoin Settlement
Brokerage technology provider DriveWealth is integrating Ripple’s RLUSD stablecoin to facilitate cross-border payments and collateral settlement across its global network. The partnership, announced October 14, aims to bypass traditional banking delays by enabling near real-time conversion of stablecoin deposits into cash for clients across more than 100 international markets.
Beyond settlement, the agreement encompasses digital asset custody services in Europe and potential equity financing via Ripple Prime. This follows a broader institutional push for RLUSD, including recent custody launches by Standard Chartered in Dubai. Ripple is providing DriveWealth with mint-and-burn functionality and transaction monitoring tools, aiming to automate stablecoin operations for institutional partners who require seamless movement between fiat and blockchain-based assets.
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