Ripple Partners with BNY Mellon for RLUSD Custody

Ripple has appointed the Bank of New York Mellon Corporation (BNY Mellon) as the primary custodian for its enterprise-grade stablecoin, Ripple USD (RLUSD). This move is aimed at strengthening institutional trust and bridging traditional finance with digital assets.

RLUSD is designed to meet the operational and risk requirements of financial institutions, with a focus on regulatory compliance, transparency, and enterprise utility. Issued under a New York Department of Financial Services (NYDFS) Trust Company Charter, RLUSD aims to improve the speed, cost, and efficiency of cross-border payments.

By choosing BNY Mellon as the primary reserve custodian, Ripple is leveraging the bank’s expertise in digital asset infrastructure. BNY Mellon will provide not only custody services but also transaction banking capabilities that support RLUSD’s operations. This partnership builds on BNY Mellon’s track record in stablecoin servicing and reflects its strategic interest in enabling interoperability between digital and traditional financial systems.

“BNY brings together demonstrable custody expertise and a strong commitment to financial innovation in this rapidly changing landscape,” said Jack McDonald, SVP of Stablecoins at Ripple. “This makes it the ideal partner for Ripple and RLUSD.”

This latest partnership marks a significant shift in how legacy financial institutions are responding to the digital asset revolution. BNY Mellon’s involvement strengthens the credibility of RLUSD. “As primary custodian, we are thrilled to support the growth and adoption of RLUSD by facilitating the seamless movement of reserve assets and cash to support conversions,” said Emily Portney, Global Head of Asset Servicing at BNY.

Switzerland-based AMINA Bank became the first international lender to offer custody and trading services for Ripple’s RLUSD stablecoin. This move by AMINA Bank highlights the growing acceptance and integration of digital assets within the traditional banking sector.

This partnership between Ripple and BNY Mellon is a strategic move that underscores the increasing convergence of traditional finance and digital assets. By leveraging BNY Mellon’s proven custody infrastructure and Ripple’s innovative stablecoin technology, this collaboration aims to drive institutional adoption and enhance the efficiency of cross-border payments.