TLDR
Ripple partners with BNY Mellon for enhanced regulatory compliance in RLUSD custody.
BNY Mellon’s role strengthens institutional trust in Ripple’s stablecoin RLUSD.
Ripple’s RLUSD gains traction as stablecoin adoption surges amid regulatory shifts.
Ripple’s strategic moves, like BNY Mellon partnership, position it as a leader in digital finance.
Ripple has announced a strategic partnership with the Bank of New York Mellon (BNY Mellon) to handle the custody of its U.S. dollar-pegged stablecoin reserves. This agreement marks a crucial step in the development of Ripple’s ripple USD (RLUSD) stablecoin and adds credibility to the expanding stablecoin market. B
NY Mellon, known as the oldest bank in the U.S., will be responsible for managing RLUSD’s reserves, providing Ripple with enhanced regulatory compliance and institutional trust.
BNY Mellon’s Role in Ripple’s Stablecoin Strategy
BNY Mellon’s involvement with Ripple consequently reflects the increasing interest from traditional financial institutions in the cryptocurrency space. As the primary custodian of RLUSD’s reserves, BNY Mellon will facilitate the smooth transfer of reserve assets, which will support the stablecoin’s conversions.
Emily Portney, the global head of asset servicing at BNY Mellon, emphasized the importance of offering comprehensive solutions that cater to institutional needs within the digital asset ecosystem.
Ripple has selected @BNYglobal as the primary reserves custodian for $RLUSD, an enterprise-grade stablecoin built for real-world utility, supported by one of the largest and most trusted financial services companies in the world. https://t.co/T2ZWkvb9cL
Learn more about our…
— Ripple (@Ripple) July 9, 2025
Ripple’s decision to partner with BNY Mellon underscores its commitment to ensuring regulatory compliance in the evolving digital currency space. Stablecoins, like RLUSD, are pegged to traditional currencies, in this case, the U.S. dollar, providing users with the stability of fiat while maintaining the efficiency of blockchain transactions. This partnership with BNY Mellon strengthens Ripple’s position in the growing stablecoin market, boosting institutional adoption and trust in RLUSD.
Surge of Stablecoin Interest
The announcement of this collaboration as a result comes amid a broader wave of institutional interest in stablecoins. Consequently, this shift, often referred to as “stablecoin summer,” highlights the growing role of stablecoins in bridging traditional finance with blockchain technology.
Ripple’s RLUSD is among the many stablecoins gaining traction as big companies such as Amazon, Walmart, and others explore the potential use or issuance of their own stablecoins.
The U.S. government’s moreover is changing stance on cryptocurrency regulation, with the rollback of restrictive policies from the Biden administration, has contributed to this surge in stablecoin adoption. Additionally, as Congress moves closer to passing stablecoin legislation, more companies are expected to enter the space. Ripple’s RLUSD is well-positioned to benefit from this regulatory shift, especially with BNY Mellon’s institutional backing.
Ripple’s Growing Role in Digital Finance
Ripple has been a key player in cross-border payments for over a decade, offering solutions to banks and financial institutions. Its launch of RLUSD in December 2024 marked its entry into the stablecoin market, which has become a significant part of the broader cryptocurrency ecosystem.
Concurrently, Ripple’s decision to apply for a U.S. national banking charter and a Federal Reserve master account further reflects its desire to integrate into the traditional financial system.
Ripple’s strategic moves, such as securing BNY Mellon’s custody services, are designed to provide a more secure and compliant environment for its digital asset offerings. The company’s focus on regulatory alignment and institutional partnerships positions it as a leader in the digital finance sector. The stablecoin market, which Ripple is tapping into, is expected to grow as more institutions adopt blockchain technology for faster and more efficient transactions.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
