Key Takeaways
- • Ripple and BNY expanded their strategic collaboration to broaden institutional digital asset custody and explore blockchain use cases, including tokenized trade finance, according to a joint press release.
- • BNY now supports Ripple's stablecoin RLUSD on its Digital Asset Custody platform, building on its role as primary reserve custodian for RLUSD and its custody relationship with Ripple Prime.
- • RLUSD has reached approximately $2.5 billion in market capitalization, per Ripple, and the XRP Ledger has processed more than 4.6 billion transactions since launch with settlement in roughly three to five seconds.
- • BNY plans to let clients mint and redeem RLUSD directly and to broaden support for tokenized assets and investment products issued on the XRPL.
- • BNY reported $63.4 trillion in assets under custody and/or administration and $2.2 trillion in assets under management as of September 30, 2026.
Summary
Ripple and BNY have announced an expansion of their strategic collaboration aimed at broadening institutional digital asset custody capabilities and exploring blockchain use cases, including tokenized trade finance, according to a press release from the companies. The story was carried by Investing.com.
Under the expanded arrangement, BNY now supports Ripple's stablecoin, RLUSD, on its Digital Asset Custody platform. The move builds on BNY's existing role as primary reserve custodian for RLUSD and its custody relationship with Ripple Prime. BNY also intends to enable clients to mint and redeem RLUSD directly through the bank, and plans to broaden support for tokenized assets and investment products issued on the XRP Ledger (XRPL).
The two companies also intend to advance tokenized trade finance on the XRPL and are exploring a supply chain finance initiative with C2FO, a working capital platform, aimed at expanding investor access to approved receivables. Ripple states that RLUSD has reached approximately $2.5 billion in market capitalization. The XRPL has processed more than 4.6 billion transactions since launch, with transactions settling in approximately three to five seconds, according to the release.
Monica Long, President of Ripple, said the industry has moved past the initial issuance of assets onchain and that the focus is now on making tokenized assets usable for payments and collateral across financial markets. Carolyn Weinberg, Chief Innovation and Market Transformation Officer at BNY, said future market infrastructure will connect payments, liquidity, collateral and securities through bridges between traditional scaled systems and blockchain technology.
For context, BNY oversees $63.4 trillion in assets under custody and/or administration and $2.2 trillion in assets under management, as of September 30, 2026.
Under the expanded arrangement, BNY now supports Ripple's stablecoin, RLUSD, on its Digital Asset Custody platform. The move builds on BNY's existing role as primary reserve custodian for RLUSD and its custody relationship with Ripple Prime. BNY also intends to enable clients to mint and redeem RLUSD directly through the bank, and plans to broaden support for tokenized assets and investment products issued on the XRP Ledger (XRPL).
The two companies also intend to advance tokenized trade finance on the XRPL and are exploring a supply chain finance initiative with C2FO, a working capital platform, aimed at expanding investor access to approved receivables. Ripple states that RLUSD has reached approximately $2.5 billion in market capitalization. The XRPL has processed more than 4.6 billion transactions since launch, with transactions settling in approximately three to five seconds, according to the release.
Monica Long, President of Ripple, said the industry has moved past the initial issuance of assets onchain and that the focus is now on making tokenized assets usable for payments and collateral across financial markets. Carolyn Weinberg, Chief Innovation and Market Transformation Officer at BNY, said future market infrastructure will connect payments, liquidity, collateral and securities through bridges between traditional scaled systems and blockchain technology.
For context, BNY oversees $63.4 trillion in assets under custody and/or administration and $2.2 trillion in assets under management, as of September 30, 2026.
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