DriveWealth plans RLUSD settlement with Ripple, starting in Europe

DriveWealth is integrating Ripple’s stablecoin infrastructure into its brokerage platform, with settlement in Europe as the first stated market and U.S. expansion planned. The companies announced the partnership on October 14, outlining work across payments, custody and institutional financing.

The settlement integration will use Ripple’s RLUSD stablecoin on the XRP Ledger, together with Ripple’s minting and redemption capabilities, according to the joint announcement published by Ripple. DriveWealth is also integrating Ripple Payments to receive funds from its partners across borders.

The problem the companies identify is a mismatch between trading and funding. U.S. equities settle on a T+1 schedule, while an international transfer can take longer. Brokerage customers must account for those different timetables when moving money into the accounts supporting their activity.

DriveWealth chief executive Naureen Hassan connected the partnership to the firm’s existing 24/5 trading service. The proposed funding arrangement would let clients place stablecoins into collateral accounts and convert them into cash in near real time, reducing dependence on the timing of an incoming bank wire.

Jason Shubnell’s October 14 report for The Block corroborates the European starting point and the planned U.S. expansion. It also describes the companies’ effort to bring treasury and custody activity onto Ripple’s infrastructure.

Several parts remain work in progress. The announcement describes digital-asset custody work in Europe, with additional markets intended later. DriveWealth and Ripple Prime are exploring equity-financing opportunities through Ripple Prime’s Delta One business. An exploration is an earlier commitment than a launched financing service.

The companies’ language mixes integration plans with descriptions of what customers will be able to do. It supplies no specific activation date or completed settlement-volume figures for this partnership. The announcement consequently supports a defined implementation program, rather than evidence that every planned service is already operating in every market.

A fireside discussion about the partnership is scheduled for Ripple Swell in New York on October 28. For brokerage partners, the useful follow-up is whether the settlement, funding and custody components become available on the stated regional path.

Sources

Ripple and DriveWealth: institutional infrastructure partnership · DriveWealth to use RLUSD for settlement