Ripple chooses BNY Mellon for the custody of RLUSD stablecoin reserves: a new era for digital finance
Ripple, global leader in digital asset infrastructure for financial institutions, has announced the selection of The Bank of New York Mellon Corporation (BNY Mellon) as the primary custodian of the reserves of the stablecoin Ripple USD (RLUSD). This partnership represents a fundamental step for the institutional adoption of stablecoins and for strengthening the bridge between traditional finance and the crypto world.
RLUSD: the stablecoin designed for businesses
RLUSD stands out as an enterprise-level stablecoin, designed to ensure regulatory compliance, utility, and transparency. Issued under the supervision of the New York Department of Financial Services (NYDFS) through a Trust Company Charter, RLUSD is not primarily intended for retail users but is created to meet the needs of large enterprises, particularly in the optimization of cross-border payments.
This stablecoin aims to fill a gap in the market, offering a reliable tool to improve speed, costs, and efficiency in international transactions. Its development responds to the rigorous demands of major financial institutions, which require robust and regulated solutions to operate in the new digital landscape.
The central role of BNY Mellon in the custody of the Ripple USD stablecoin reserves (RLUSD)
BNY Mellon, global giant of financial services, will be the main custodian of RLUSD reserves, providing its advanced technological infrastructure and the experience gained in the digital asset ecosystem. The bank will also provide top-notch transaction banking services, essential to support RLUSD operations and offer integrated solutions.
This collaboration fits into the path already outlined by BNY Mellon, which boasts solid experience in the end-to-end management of infrastructures for stablecoin. The shared goal is to promote future interoperability between stablecoin and traditional assets, thus facilitating the integration between the two worlds.
Statements of the protagonists
Jack McDonald, Senior Vice President of Stablecoins at Ripple, emphasized how RLUSD was developed to meet a specific market demand:
“Ripple USD fills a critical gap as a stablecoin designed for enterprise-level financial use cases, meeting the rigorous standards of major institutions. BNY combines proven expertise in custody with a strong inclination for financial innovation, representing the ideal partner for Ripple and RLUSD.”
For her part, Emily Portney, Global Head of Asset Servicing at BNY Mellon, highlighted the bank’s commitment to providing differentiated and comprehensive solutions for the entire digital asset ecosystem:
“As the main custodian, we are excited to support the growth and adoption of RLUSD, facilitating the smooth movement of reserves and cash to support conversions. We are proud to collaborate with Ripple to push forward the future of the financial system.”
Ripple: innovation and reliability in digital finance
Ripple has established itself as a point of reference in offering digital infrastructure for financial institutions. Its solutions, based on the XRP Ledger and the native asset XRP, are designed to ensure fast, scalable, and low-cost transactions, both for developers and financial operators.
The company boasts a solid reputation in collaborating with regulators and policy makers globally, contributing to building trust and credibility in the digital economy. Through payment products, custody, and stablecoin, Ripple is leading the transformation of how value is tokenized, stored, exchanged, and transferred in the world.
BNY Mellon: a story of excellence and innovation
With over 240 years of history, BNY Mellon is one of the most respected and long-standing financial institutions in the world. The bank manages, moves, and safeguards money for clients of all sizes, including over 90% of Fortune 100 companies and nearly all of the top 100 global banks.
BNY Mellon supports governments, pension funds, and institutional investors, ensuring the security of investments and the realization of strategic projects. As of March 31, 2025, the bank supervised 53.1 trillion dollars in assets under custody and/or administration and 2 trillion dollars in assets under management. Its reputation is confirmed by the numerous awards received, including its presence in the rankings of Fortune and Fast Company.
A bridge between traditional and digital finance
The choice of BNY Mellon as the main custodian of RLUSD reserves represents a strong signal of the growing convergence between traditional finance and digital assets. The integration of expertise, infrastructures, and visions between two industry leaders like Ripple and BNY Mellon paves the way for a new era, in which stablecoins can become fundamental tools for the efficiency and security of global markets.
The collaboration between these two entities demonstrates how innovation can be driven by strategic partnerships, capable of combining reliability, compliance, and cutting-edge technology. In a rapidly evolving context, initiatives like this are destined to redefine the role of stablecoins and digital assets in the international financial landscape.
Future Outlook
The announcement of the partnership between Ripple and BNY Mellon marks a turning point for the institutional adoption of stablecoins. With RLUSD, businesses will be able to rely on a secure, regulated tool supported by one of the most solid banks in the world. At the same time, the collaboration opens new opportunities for interoperability between digital assets and traditional financial instruments.
The road towards an increasingly digital and integrated finance passes through initiatives like this, which lay the foundations for a more efficient, transparent, and innovative system. Ripple and BNY Mellon, together, are building the infrastructure of the future, where trust and technology meet to offer new solutions in the service of the global economy.