Ripple has selected The Bank of New York Mellon Corporation as the primary custodian for its Ripple USD (RLUSD) stablecoin reserves. This partnership underscores a joint commitment to advancing digital asset adoption at an institutional scale and bridging traditional finance with crypto ecosystems.
RLUSD is an enterprise-grade stablecoin designed for regulatory compliance, utility, and transparency, issued under a New York Department of Financial Services (NYDFS) Trust Company Charter. It is purpose-built for enterprise utility, particularly in improving the speed, cost, and efficiency of cross-border payments.
BNY Mellon will leverage its deep technology stack and expertise in the digital assets ecosystem to underpin RLUSD's operations and provide integrated solutions. This builds upon BNY Mellon's proven track record in stablecoin infrastructure and furthers its efforts for future interoperability between stablecoins and traditional assets.
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