DriveWealth Turns to Ripple’s RLUSD Stablecoin for Client Funding, With Europe First
By Unchained
AI summary of the source article
DriveWealth announced it will use Ripple's RLUSD stablecoin to settle client funds, starting in Europe. The collaboration also integrates Ripple Payments for cross-border transactions and digital asset custody onto Ripple's rails.
Why it matters
The companies pitched the partnership as a fix for a timing gap where "U.S. stock trades now settle one business day after execution, known as T+1, while dollars sent across borders can take longer to land, tying up capital for brokers and the apps built on them."
Key facts
- DriveWealth will use Ripple's RLUSD stablecoin on the XRP Ledger to settle client funds, beginning in Europe with plans for the U.S.
- DriveWealth is adopting Ripple Payments for cross-border funding and collaborating with Ripple on digital asset custody in Europe.
- DriveWealth is moving treasury and custody infrastructure to Ripple's rails to display balances in dollars, stablecoins, and crypto in real time.
Source excerpt · Unchained
The infrastructure firm behind investing products at more than 100 partners will let clients fund collateral accounts with Ripple's stablecoin, with a U.S. rollout planned but not dated. The post DriveWealth Turns to Ripple’s RLUSD Stablecoin for Client Funding, With Europe First appeared first on Unchained .