DriveWealth has partnered with Ripple to integrate stablecoin settlement, cross-border payments and digital asset custody into its brokerage platform. The integration will use Ripple's RLUSD stablecoin on the XRP Ledger, starting with settlement in Europe and later expanding to the United States.
DriveWealth clients will be able to fund and manage collateral accounts with stablecoins that convert to cash in near real time. According to DriveWealth CEO Naureen Hassan, the firm has already enabled 24/5 trading and now needs funding to match. "Our partnership with Ripple empowers us to extend the same funding, and custody experience our clients already rely on to stablecoins and digital assets, so their capital keeps working around the clock instead of sitting idle overnight or over a weekend," Hassan said.
The collaboration also moves DriveWealth's treasury and custody infrastructure onto Ripple's rails, while the companies explore equity financing opportunities through Ripple Prime. Ripple SVP of stablecoins Jack McDonald said DriveWealth came to Ripple with a specific cross-border settlement challenge, but the talks quickly expanded into a broader integration of Ripple's product suite across trading, custody and settlement.
The partnership deepens RLUSD's presence in institutional financial infrastructure. Earlier in the same week, Standard Chartered launched custody for RLUSD on the XRP Ledger, and Ripple and Stripe-owned Privy partnered to bring embedded wallets to the XRP Ledger. Ripple and LMAX Group previously struck a deal to expand institutional stablecoin use with $150 million in financing. The companies are expected to discuss the partnership at Ripple Swell on Oct. 28.
