Ripple Selects BNY Mellon as Custodian for RLUSD Stablecoin Reserves

Ripple has chosen global banking giant BNY Mellon to act as the primary custodian for reserves backing its enterprise-grade stablecoin, Ripple USD (RLUSD).

The move marks a significant milestone in Ripple’s effort to scale institutional adoption of digital assets and bridge the gap between traditional finance and blockchain-powered payment infrastructure.

BNY Mellon, known for its longstanding presence in asset servicing and its growing influence in digital finance, will also provide transaction banking services to support RLUSD’s operational needs. The partnership reinforces both firms’ commitment to advancing digital asset integration within regulated financial systems.

Enterprise-Grade Stablecoin with Regulatory Backing

RLUSD is designed to meet the needs of institutions rather than retail users. Unlike many consumer-focused stablecoins, RLUSD prioritizes compliance, transparency, and utility—particularly for cross-border transactions. Issued under a New York Department of Financial Services (NYDFS) Trust Company Charter, the stablecoin is structured with strict regulatory oversight.

According to Ripple, RLUSD will offer institutions a secure and efficient medium for settlement and liquidity across global markets. The coin is fully backed 1:1 with high-quality liquid USD assets and undergoes third-party audits and reserve transparency measures.

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Strengthening Infrastructure for Institutional Adoption

Jack McDonald, Ripple’s SVP of Stablecoins, described RLUSD as a critical piece of infrastructure built to match the high standards of global financial institutions. He said the partnership with BNY Mellon brings together trusted custody experience and a modern approach to digital finance.

BNY Mellon’s Global Head of Asset Servicing, Emily Portney, echoed the sentiment, stating that RLUSD represents a step forward in institutional adoption of digital assets. She emphasized the bank’s commitment to offering innovative, secure, and efficient digital solutions.

The announcement highlights Ripple’s broader vision of integrating blockchain with mainstream finance and positions RLUSD as a leading stablecoin solution tailored for the demands of banks, payment providers, and regulated entities worldwide.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.