BNY Mellon Launches XRP and RLUSD Custody Services for Institutional Clients

Key Highlights

Table of Contents

BNY Mellon integrates XRP and RLUSD into its institutional Digital Asset Custody platform.
Ripple and BNY Mellon will investigate tokenized trade receivables on the XRP Ledger.
C2FO introduces plans for RLUSD-powered instant invoice settlement.
Institutional clients may receive direct RLUSD creation and redemption capabilities via BNY Mellon.
The collaboration aims to broaden tokenized financial product offerings and collateral management.

Ripple and BNY Mellon have extended their partnership by introducing custody services for XRP and RLUSD, while revealing strategic initiatives centered on the XRP Ledger. The October 27 announcement detailed upcoming efforts in trade finance and digital payment infrastructure.

Trade finance is coming to the XRP Ledger!
Today, we’re expanding our collaboration with @BNYglobal across custody and tokenized trade finance, bringing BNY’s institutional scale together with $RLUSD, @XRP and the XRP Ledger.
→ https://t.co/0wOltZclRj pic.twitter.com/3LRULGEuqO
— Ripple (@Ripple) October 27, 2026

BNY Mellon has integrated both digital assets into its Digital Asset Custody platform. Qualified institutional clients can now manage and move XRP alongside Ripple’s dollar-pegged RLUSD stablecoin through the bank’s established custody framework. This service targets institutional participants exclusively.

Institutional Custody Services Scale Up

The financial institution previously maintained reserves for RLUSD and offered custody solutions linked to Ripple Prime. This enhanced offering provides direct token access while maintaining those existing arrangements.

Ripple reports RLUSD has achieved approximately $2.5 billion in total market capitalization. Recent data from October 23 regarding declining XRP Ledger stablecoin supply focused on tokens within that specific network, distinct from RLUSD distributed across multiple blockchain platforms.

Tokenized Trade Receivables Under Development

BNY Mellon and Ripple intend to investigate digital representation of trade receivables on the XRP Ledger. Trade receivables represent outstanding payments suppliers expect for completed deliveries of goods or services. Digital tokenization creates a blockchain-based record of these payment obligations while the original invoice maintains its connection to the buyer’s debt.

Their collaboration with working-capital specialist C2FO seeks to enhance investor accessibility to these financial instruments. The parties have yet to disclose implementation timelines or finalize transactions within this framework.

C2FO Instant Pay Program Advances

Through a companion announcement, Ripple and C2FO revealed C2FO Instant Pay, designed to process financed invoices through RLUSD transactions on the XRP Ledger. Ripple concurrently participates in a distinct Singapore trade payment initiative leveraging the same stablecoin.

The proposed mechanism allows participating financing providers to advance payment on qualified invoices. Suppliers would obtain settlement funds in seconds following financing approval, though original invoice maturity dates would stay intact. C2FO currently welcomes preliminary interest from potential participants.

RLUSD Direct Access in Development Pipeline

This partnership expansion follows Ripple’s final U.S. trust bank authorization, confirmed October 26. The forthcoming banking entity will handle RLUSD reserve management and institutional custody operations. BNY Mellon continues serving as the primary custodian for RLUSD reserves.

BNY Mellon plans to enable qualified institutional clients to mint and redeem RLUSD directly through its banking infrastructure while expanding support for additional tokenized investment vehicles. Both organizations declined to specify deployment schedules for these planned features. Ripple President Monica Long emphasized the strategic priority of deploying tokenized assets within payment systems and collateral frameworks.