Ripple has joined hands with fintech firm DriveWealth to expand the global payments market using XRP and the stablecoin RLUSD. Through this partnership, DriveWealth will adopt Ripple's payments infrastructure to strengthen its digital asset-related services.

Ripple announced the partnership with DriveWealth through an official press release. The collaboration focuses on integrating stablecoins, payments, liquidity, custody, and prime brokerage services into DriveWealth's global financial infrastructure. Overseas crypto media outlet Coingape reported that this partnership could serve as an opportunity to increase the global payment utilization of XRP and RLUSD.

European Rollout First, Followed by U.S. Expansion Plans

According to Coingape, DriveWealth will first adopt Ripple's stablecoin infrastructure to support payment processing in Europe. It then plans to expand the stablecoin payment infrastructure to the U.S. market.

In this process, RLUSD based on the XRP Ledger (XRPL) will be utilized, with stablecoin issuance and burning functions also set to be introduced. In addition, DriveWealth plans to integrate Ripple Payments to support cross-border payments for its global partners.

24/7 Real-Time Fund Transfer Environment Opens Up

Ripple explained that this partnership is meaningful in that it connects the company's blockchain solutions to DriveWealth's securities brokerage infrastructure, allowing traditional financial assets and digital assets to be used in a more integrated environment.

Coingape reported that through this partnership, DriveWealth customers will be able to trade stablecoins directly from their accounts and convert them into cash in real time without waiting for traditional bank transfers. Global customers will also be able to transfer funds 24 hours a day, 7 days a week, without being restricted by banking hours.

Expansion Beyond Payments into Custody and Equity Finance

The collaboration between Ripple and DriveWealth does not stop at payment services. According to Ripple's announcement cited by Coingape, DriveWealth plans to utilize Ripple's custody infrastructure to support virtual asset custody services in Europe, with plans to expand the service to other markets in the future.

The two companies are also exploring collaboration opportunities in equity finance through the Delta One business of Ripple Prime. Coingape explained that Ripple Prime launched an equity trading service through its Delta One business in August (local time). Through this, customers can execute total return swaps on U.S. equities and equity derivatives.

Latest in a Series of Partnerships Following Privy

This partnership follows Ripple's collaboration with Privy announced the previous day (local time). According to Coingape, Privy integrated its programmable wallet infrastructure into the XRP Ledger, thereby expanding access to XRP and RLUSD payments.

"There Is Far More We Can Do Together""

Jack McDonald, Senior Vice President of Stablecoins at Ripple, said regarding the partnership that DriveWealth initially approached Ripple to solve issues with cross-border payment processing. He stated, "DriveWealth came to Ripple to solve a specific problem around cross-border payment processing, but it quickly became clear that there is far more that the two companies can do together." He went on to explain that this infrastructure integration will contribute to modernizing how funds move and are managed across trading, asset custody, and payment processing.

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