DriveWealth and Ripple Partner to Enhance Global Funding Efficiency
- DriveWealth collaborates with Ripple to integrate dollar-backed token settlement in Europe, with plans for U.S. expansion.
- The partnership aims to bridge the gap between trading hours and bank transfers, enhancing funding speed for over 100 global partners.
- Ripple USD (RLUSD) is used on the XRP Ledger for stablecoin settlement, enabling near real-time cash conversion for collateral accounts.
- Standard Chartered began RLUSD custody on Oct.12, expanding asset safekeeping on the XRP Ledger.
- DriveWealth’s treasury integration will provide a consolidated view of dollars, stablecoins, and crypto assets.
The collaboration between DriveWealth and Ripple focuses on improving financial transaction efficiency by integrating stablecoin infrastructure in Europe and planning further expansion into the U.S., addressing mismatches in funding availability during non-trading hours.
By utilizing RLUSD on the XRP Ledger, DriveWealth aims to offer faster funding solutions for its global partners, enhancing liquidity management through near real-time cash conversion capabilities (Source).
