Ripple partners with DriveWealth for RLUSD settlement and global payments

Ripple has partnered with DriveWealth to introduce RLUSD settlement and cross-border payments across a brokerage network serving more than 100 global partners, with European settlement integration preceding a planned U.S. expansion. Summary DriveWealth will use RLUSD on the XRP Ledger for settlement, starting in Europe. Ripple Payments will support incoming cross-border transfers from the brokerage platform’s international partners. The agreement includes European digital asset custody and exploratory equity financing work through Ripple Prime. DriveWealth plans to extend stablecoin settlement to the United States after its European integration. Ripple announced the agreement on Oct. 14, describing a package of settlement, payments and custody services for DriveWealth’s investing infrastructure. Under the arrangement, the brokerage technology provider will use Ripple’s dollar-backed RLUSD stablecoin on the XRP Ledger, together with tools for minting and burning the token. For clients funding collateral accounts, the announcement describes stablecoin deposits that can convert into cash in near real time, reducing the need to wait for an international bank wire. Through Ripple Paymen...