Ripple Partners with BNY Mellon for RLUSD Stablecoin Reserves

Ripple has announced a strategic partnership with BNY Mellon, the world's largest custodian holding over $43 trillion in traditional assets, to serve as the primary reserves custodian for its newly introduced RLUSD stablecoin. RLUSD is designed as an enterprise-grade, U.S. dollar-backed stablecoin, aimed at offering compliant and scalable solutions for real-world financial operations. It is set to operate across Ripple's platforms, facilitating institutional use cases, especially in cross-border settlements and treasury management. Ripple highlighted that this collaboration with BNY Mellon marks a significant step towards bridging digital assets with traditional financial systems, leveraging the custodian's esteemed reputation, regulatory compliance, and vast operational scale. This initiative is part of Ripple's broader strategy to provide reliable and regulation-friendly digital asset infrastructure for global financial institutions and enterprises. BNY Mellon, a cornerstone of the U.S. financial sector, is renowned for its custodial and settlement services, managing over $43 trillion in assets and processing more than $2 trillion in daily payments. The institution has been expanding its services to include digital asset custody, signaling growing institutional acceptance of blockchain-based financial instruments.