DriveWealth, a brokerage-as-a-service platform, has partnered with Ripple to modernise how capital moves, settles, and is managed across its investing infrastructure, accelerating its move to digital rails.
Ripple’s stablecoin infrastructure, including its mint and burn capabilities, will be integrated by DriveWealth to support settlement in Europe — with plans to expand to the US — and will leverage RLUSD on the XRP Ledger.
DriveWealth is deploying Ripple Payments to support cross-border acceptance from its global partners, and Ripple’s blockchain solutions are being brought into DriveWealth’s brokerage infrastructure.
The firms are also exploring equity financing through Ripple Prime’s Delta One business.
DriveWealth’s treasury and custody capabilities will be available on Ripple’s rails, allowing a real-time view of balances in US dollars, stablecoins, or cryptocurrencies, and the ability to move between them if necessary.
According to DriveWealth, its clients will be able to instantly fund and manage their collateral accounts with stablecoins that convert to cash in near real time instead of waiting on a bank wire.
Commenting on the collaboration, Naureen Hassan, CEO of DriveWealth, says: “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.”
Jack McDonald, senior vice president of stablecoins at Ripple, adds: “DriveWealth came to Ripple with a specific challenge around cross-border settlement, but it quickly became clear there was an opportunity to do much more together.
“By integrating Ripple’s full product suite into DriveWealth, we’re modernising how money moves and is supported across trading, custody, and settlement.”
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