XRP News Today: Ripple Partners with BNY Mellon to Safeguard $500M RLUSD Reserves

Ripple has entered into a strategic partnership with BNY Mellon to safeguard the reserves of its RLUSD stablecoin, which has surpassed $500 million. This partnership marks a significant milestone in Ripple’s cryptocurrency payment and stablecoin strategy, sparking discussions within financial circles. Bitwise’s CEO, Hunter Horsley, suggested that Ripple might soon be labeled as an “XRP treasury company,” eliciting a range of reactions from admiration to criticism.

The partnership, announced on July 9, 2025, involves transferring RLUSD’s reserves, supported by cash and short-term U.S. Treasury bonds, to BNY Mellon’s extensive global custody network. By leveraging a trusted financial giant to hold its reserves, Ripple aims to enhance credibility among institutional clients. Launched at the end of 2024, RLUSD quickly rose to become one of the top twenty USD-pegged stablecoins, achieving a daily trading volume of approximately $26 million within just seven months.

Ripple’s leadership emphasizes that operating RLUSD on both the XRP Ledger and Ethereum blockchain significantly reduces cross-border crypto transaction costs. Additionally, Ripple is seeking a national bank banking license from the U.S. Office of the Comptroller of the Currency. If approved, RLUSD issuance would be directly regulated under banking laws. Market analysts assert that the involvement of a traditional financial powerhouse could accelerate closer interactions between cryptocurrency sectors and regulated entities.

Hunter Horsley’s Twitter inquiry, “Is Ripple evolving into an XRP treasury company?” garnered significant attention. Speaking to CNBC, Horsley predicted 2025 as a transformative year for the crypto market, citing positive shifts in U.S. Congress, regulators, and the White House’s attitudes. He envisions major cryptocurrencies like Bitcoin and XRP becoming standard tools not only on exchanges but also in corporate balance sheets and services.

Previously, Horsley criticized the inclusion of Ethereum, XRP, Solana, and Cardano in U.S. President Donald Trump’s proposed national crypto reserve plan, advocating for a Bitcoin-only reserve. His latest statements support the notion that the Ripple–BNY Mellon alliance may redefine the power dynamics between decentralized finance and Wall Street.

Ripple, a leading provider of digital asset infrastructure for financial institutions, has made a significant move by partnering with The Bank of New York Mellon Corporation (BNY) to serve as the primary custodian for Ripple USD (RLUSD) reserves. This strategic alliance underscores Ripple's commitment to regulatory compliance and its proactive approach to integrating digital assets into the traditional financial ecosystem. The partnership aims to facilitate the seamless movement of reserve assets and cash, supporting conversions and enhancing the overall efficiency of cross-border payments.

RLUSD, a stablecoin designed for enterprise-grade financial use cases, is issued under a New York Department of Financial Services (NYDFS) Trust Company Charter. Unlike other stablecoins primarily geared toward retail users, RLUSD is purpose-built for enterprise utility, focusing on improving the speed, cost, and efficiency of cross-border transactions. BNY's role as the primary reserve custodian leverages its deep technology stack and expertise, enabling the digital assets ecosystem and providing leading transaction banking services to underpin RLUSD’s operations.

The collaboration between Ripple and BNY is a testament to their shared commitment to building a robust financial infrastructure for the future. Jack McDonald, SVP of Stablecoins at Ripple, highlighted that RLUSD addresses a critical gap in the market by meeting the rigorous standards of leading financial institutions. He emphasized BNY's demonstrable custody expertise and strong commitment to financial innovation, making it an ideal partner for Ripple and RLUSD. Emily Portney, Global Head of Asset Servicing at BNY, echoed this sentiment, stating that BNY is thrilled to support the growth and adoption of RLUSD by facilitating the seamless movement of reserve assets and cash.

This partnership is not just about safeguarding RLUSD reserves; it is about bridging the gap between traditional finance and the crypto ecosystem. BNY's proven track record in providing end-to-end services across stablecoin infrastructure further solidifies its role in this rapidly changing landscape. The collaboration aims to foster future interoperability between stablecoins and traditional assets, paving the way for institutional digital asset adoption.

Ripple's solutions leverage the XRP Ledger and its native digital asset, XRP, which is designed to enable fast, low-cost, and highly scalable transactions. With a proven track record of working with regulators and policymakers, Ripple's payments, custody, and stablecoin solutions are pioneering the digital asset economy, building credibility and trust in enterprise blockchain. Together with customers, partners, and the developer community, Ripple is transforming the way the world tokenizes, stores, exchanges, and moves value.

BNY, a global financial services company, has been managing, moving, and keeping money safe for over 240 years. It partners with clients to help them achieve their ambitions, supporting governments, pension plans, and financial institutions worldwide. This partnership with Ripple further enhances BNY's commitment to delivering differentiated, end-to-end solutions designed to meet the needs of institutions across the entire digital assets ecosystem.