Key Takeaways
- • DriveWealth, a Brokerage-as-a-Service platform, announced a partnership with Ripple to integrate blockchain and stablecoin infrastructure across its global investing platform.
- • The integration will use Ripple's RLUSD stablecoin on the XRP Ledger for settlement in Europe, with plans to expand to the U.S.
- • Clients will be able to fund and manage collateral accounts with stablecoins that convert to cash in near real time, instead of waiting on bank wires.
- • Ripple Prime's Delta One business will explore equity financing opportunities for DriveWealth, covering U.S. equities and equity derivatives.
- • DriveWealth powers investing experiences for more than 100 partners globally, while Ripple holds more than 85 licenses.
Summary
DriveWealth, a global Brokerage-as-a-Service provider, has announced a partnership with Ripple aimed at modernizing how money moves, settles, and is managed across its global investing infrastructure. According to the companies, the collaboration addresses a mismatch between securities settlement and cross-border funding: U.S. equities now settle on a T+1 basis, while moving dollars across borders can take longer, potentially trapping capital and increasing funding requirements for financial institutions and fintechs.
The partnership spans four workstreams. First, DriveWealth is integrating Ripple's stablecoin infrastructure to support settlement in Europe, using RLUSD on the XRP Ledger alongside Ripple mint and burn capabilities, with plans to expand to the U.S. Second, DriveWealth is integrating Ripple Payments to support cross-border acceptance of funds from its global partners. Third, Ripple is supporting DriveWealth's digital asset custody needs in Europe, with expansion to additional markets planned over time. Fourth, DriveWealth and Ripple Prime are exploring equity financing opportunities through Ripple Prime's Delta One business, which covers U.S. equities and equity derivatives.
For clients, the companies say the changes will allow collateral accounts to be funded instantly with stablecoins that convert to cash in near real time, rather than waiting on a bank wire. DriveWealth is also moving its treasury and custody infrastructure onto Ripple's rails, which the companies say will give clients a single real-time view of their holdings in dollars, stablecoins, or crypto, with the ability to move between them.
DriveWealth CEO Naureen Hassan said the partnership extends the firm's existing 24/5 trading capability to funding, allowing capital to remain productive outside standard market hours. Jack McDonald, SVP of Stablecoins at Ripple, said the collaboration began as a cross-border settlement challenge and expanded into a broader integration across trading, custody, and settlement.
DriveWealth states that it powers investing experiences for more than 100 partners, including fintechs, digital wallets, and financial institutions. Ripple cites more than a decade of blockchain experience and over 85 licenses. The companies will discuss the partnership in a fireside chat at Ripple Swell in New York City on October 28.
The partnership spans four workstreams. First, DriveWealth is integrating Ripple's stablecoin infrastructure to support settlement in Europe, using RLUSD on the XRP Ledger alongside Ripple mint and burn capabilities, with plans to expand to the U.S. Second, DriveWealth is integrating Ripple Payments to support cross-border acceptance of funds from its global partners. Third, Ripple is supporting DriveWealth's digital asset custody needs in Europe, with expansion to additional markets planned over time. Fourth, DriveWealth and Ripple Prime are exploring equity financing opportunities through Ripple Prime's Delta One business, which covers U.S. equities and equity derivatives.
For clients, the companies say the changes will allow collateral accounts to be funded instantly with stablecoins that convert to cash in near real time, rather than waiting on a bank wire. DriveWealth is also moving its treasury and custody infrastructure onto Ripple's rails, which the companies say will give clients a single real-time view of their holdings in dollars, stablecoins, or crypto, with the ability to move between them.
DriveWealth CEO Naureen Hassan said the partnership extends the firm's existing 24/5 trading capability to funding, allowing capital to remain productive outside standard market hours. Jack McDonald, SVP of Stablecoins at Ripple, said the collaboration began as a cross-border settlement challenge and expanded into a broader integration across trading, custody, and settlement.
DriveWealth states that it powers investing experiences for more than 100 partners, including fintechs, digital wallets, and financial institutions. Ripple cites more than a decade of blockchain experience and over 85 licenses. The companies will discuss the partnership in a fireside chat at Ripple Swell in New York City on October 28.
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