Key facts
- Ripple and DriveWealth have partnered to integrate Ripple's payment infrastructure.
- The partnership aims to expand the use of XRP and RLUSD for global payments.
- DriveWealth will integrate Ripple's stablecoin infrastructure for settlement in Europe, with plans for U.S. expansion.
- RLUSD will be leveraged on the XRP Ledger (XRPL) with mint and burn capabilities.
- DriveWealth will also utilize Ripple's custody infrastructure for crypto needs in Europe.
- The firms are exploring equity financing opportunities via Ripple Prime’s Delta One business.
Ripple has announced a strategic partnership with fintech firm DriveWealth, which is expected to enhance the global utility of XRP and Ripple's stablecoin, RLUSD. The collaboration will see DriveWealth integrate Ripple's payment and stablecoin infrastructure to bolster its cross-border settlement capabilities and digital asset services.
As part of the agreement, DriveWealth will embed Ripple's payment infrastructure to expand its global reach. The fintech firm will also integrate Ripple's stablecoin infrastructure to facilitate settlements in Europe, with intentions to extend this to the U.S. market. This integration will leverage RLUSD on the XRP Ledger (XRPL), incorporating mint and burn functionalities. Additionally, DriveWealth plans to utilize Ripple Payments for supporting cross-border transactions from its international partners.