Ripple and DriveWealth partner on XRP Ledger settlement

Ripple and DriveWealth have announced a digital asset partnership aimed at utilizing Ripple USD (RLUSD) for settlement on the XRP Ledger. The collaboration, which includes plans for expansion from Europe to the United States, covers cross-border payments, digital asset custody, and the exploration of equity financing.

Under the proposed service, brokerage clients could add stablecoins to collateral accounts and convert them to cash in near real time. While the partnership involves the XRP Ledger, the specific impact on demand for XRP—the network's native asset used for transaction fees—remains unspecified.

In a related development, Standard Chartered has launched a custody service for RLUSD through its DIFC Branch. The bank is also working with Ripple and LMAX Group to integrate RLUSD as collateral for certain LMAX products.