DriveWealth Partners with Ripple to Address Cross-Border Funding Challenges

DriveWealth is set to integrate Ripple’s stablecoin and payment technology to tackle the cross-border funding issues that hinder stock trading. The partnership, announced on October 14, aims to utilize RLUSD for settlement on the XRP Ledger, starting in Europe with potential expansion to the US.

Currently, while investors can trade US stocks through digital applications almost around the clock, the transfer of funds necessary for these trades often encounters banking cutoffs. This collaboration seeks to streamline the process, allowing for quicker fund movement and reducing operational delays associated with international transfers.

DriveWealth, which provides brokerage infrastructure to over 100 partners, is also exploring Ripple Payments for cross-border funding and considering Ripple custody and prime-brokerage services. The success of this initiative will depend on whether the integration of stablecoin funding significantly enhances the customer experience in trading applications.