Ripple and DriveWealth are developing a Ripple USD (RLUSD) settlement service for brokerage collateral accounts to address a funding gap that can leave institutions waiting for cross-border dollars after U.S. stock trades settle.
The companies’ Oct. 14 announcement describes Europe as the initial market, with U.S. service intended as a later step. It sets no service launch date.
Under the proposed arrangement, brokerage clients could place stablecoins against collateral needs and convert those balances into cash in near real time, the companies said. The aim is to make collateral funding available sooner when clients need to meet obligations.
The companies point to a timing mismatch behind the service. U.S. equities settle one business day after each trade (T+1), while cross-border dollar transfers can take longer, the announcement says. The lag can tie up capital and increase funding needs for institutions and fintech companies. The firms gave no estimate of potential savings or costs.
The DriveWealth agreement also covers cross-border payments and digital asset custody, while equity financing is being explored. DriveWealth provides brokerage infrastructure to more than 100 partners worldwide.
RLUSD is the only settlement asset identified in the plan; the agreement gives no estimate of the service’s XRP use. XRP pays transaction fees on the XRP Ledger, according to its documentation, but the announcement offers no projected volume for the token. It therefore does not quantify any additional XRP demand.
Crypto commentator John Squire used an Oct. 14 post on X to press Ripple CEO Brad Garlinghouse for evidence that the company’s partnerships are producing progress for XRP. The post reflects Squire’s view and is not a measure of holders’ sentiment overall.
Cross River Bank has also added RLUSD and the XRP Ledger to its core banking infrastructure, with services available in a limited number of states, in an earlier payment-system integration.
Ripple and DriveWealth are scheduled to discuss their agreement at Ripple Swell on Oct. 28. No date has been set for the service to go live.
