DriveWealth plans European RLUSD settlement with Ripple

DriveWealth plans to use Ripple’s RLUSD stablecoin for settlement in Europe, with a possible U.S. expansion later, according to Ripple’s partnership announcement. U.S. equities settle on a T+1 basis, while cross-border dollar transfers can take longer, the companies said.

The partnership aims to let capital move across borders and into brokerage accounts without waiting for bank-wire windows.

How will RLUSD fit into settlement?

DriveWealth is integrating Ripple’s stablecoin infrastructure for settlement in Europe, using RLUSD on the XRP Ledger alongside Ripple’s mint and burn capabilities. The companies say they plan to expand settlement support to the United States, but have not provided a timetable.

The agreement also covers Ripple Payments, which DriveWealth plans to use for cross-border payment acceptance from its global partners. DriveWealth is separately working with Ripple on digital-asset custody in Europe, with expansion to other markets planned over time.

What changes for DriveWealth clients?

DriveWealth says clients will be able to fund and manage collateral accounts with stablecoins that convert to cash in near real time, instead of waiting for a bank wire. That could help international clients move funds outside transfer windows and cutoff times, according to the announcement.

The release does not specify fees, a launch date, or which partners and end users will get access first. It describes planned integrations, so the announcement does not establish that RLUSD settlement or the new payment flows are already available.

DriveWealth’s CEO, Naureen Hassan, said the firm has already enabled 24/5 trading and wants funding to keep pace so clients can move with markets. DriveWealth provides brokerage infrastructure to more than 100 partners globally, including fintechs, digital wallets and financial institutions offering access to U.S. markets.

What else does the partnership cover?

DriveWealth and Ripple are also exploring equity-financing opportunities through Ripple Prime’s Delta One business, which Ripple says covers U.S. equities and equity derivatives. The announcement sets out an area for exploration, not a completed financing product or launch plan.

DriveWealth also says it is moving treasury and custody infrastructure onto Ripple’s rails, with a view to giving clients a real-time view of money held in dollars, stablecoins or crypto. The companies say they will discuss the partnership at Ripple Swell in New York on October 28.

Sources

• Ripple’s partnership announcement — ripple.com