DriveWealth and Ripple announced on October 14 their plans to use Ripple’s RLUSD stablecoin for settlement on the XRP Ledger, starting in Europe before a potential expansion into the United States. The integration will also involve Ripple Payments for cross-border funding, while Ripple’s custody and prime-brokerage services remain under consideration. The aim is to reduce delays caused by international transfers and banking cutoffs, which can slow the purchase of U.S. stocks even when equities settle on a T+1 basis. The capability is not yet available to all customers, and converting between stablecoins and bank money will require reliable counterparties and controls. DriveWealth already provides brokerage infrastructure to more than 100 partners, meaning any improvements could be incorporated directly into existing investment applications.
Source: Read the original article
