DriveWealth will use Ripple's RLUSD for stablecoin settlement and cross-border payments

According to The Block, brokerage service provider DriveWealth has partnered with Ripple to integrate its stablecoin settlement, cross-border payment, and digital asset custody services into its brokerage platform.

The two parties will initially launch settlement operations in Europe and plan to expand the service scope to the United States. This integration will utilize the Ripple RLUSD stablecoin on the XRP Ledger, allowing DriveWealth customers to use a stablecoin that can be converted to fiat currency almost in real-time for collateral account funding and management. Additionally, both parties are exploring opportunities for equity financing through Ripple Prime.