Ripple is enhancing the credibility of the RLUSD stablecoin as BNY Mellon, the oldest bank in the United States, becomes the official custodian.
The collaboration with BNY Mellon helps RLUSD increase regulatory compliance and strengthens trust from major financial institutions, opening a new era for stablecoins in the cryptocurrency ecosystem.
MAIN CONTENT
BNY Mellon becomes the primary custodian for the RLUSD stablecoin, enhancing its reputation and legal compliance.
RLUSD reached a market capitalization of 500 million USD in just 7 months, supported by cash and U.S. government bonds.
Ripple aims to access the U.S. banking system with a national bank charter proposal and a primary account at the Fed.
What has Ripple achieved from its partnership with BNY Mellon in custody of the RLUSD stablecoin?
The partnership with BNY Mellon helps Ripple achieve significant legal and credibility advancements in the eyes of regulators and institutional investors.
BNY Mellon is a longstanding reputable bank, specializing in serving businesses and governments. Entrusting them with the official custody role of the collateral for RLUSD means Ripple is strengthening the security foundation and complying with strict laws for this stablecoin.
"As the official custodian, we are honored to support the growth and adoption of RLUSD by ensuring the seamless movement of reserves and cash for conversion transactions."
Emily Portney, Global Head of Asset Services, BNY Mellon, 2025
How has RLUSD's market grown since its launch?
Just 7 months after its launch in December 2024, RLUSD has achieved a market capitalization of over 500 million USD.
This stablecoin is fully backed 1:1 by cash and U.S. government bonds, ensuring the safety and stability that financial institutions require. The design of RLUSD is aimed at synchronizing with the payment ecosystem and the increasingly practical applications of Token XRP.
Why does Ripple want to apply for a national bank charter and an account at the U.S. Federal Reserve?
Ripple aims for deeper integration into the traditional financial system by applying for a national bank charter and opening a primary account at the Fed.
If approved, Ripple will have the right to hold reserves directly at the central bank and leverage the U.S. standard payment system, creating advantages in transaction speed and legality in stablecoin operations.
"We are applying for a national bank charter from the OCC to have both state and federal oversight, creating a new standard of trust in the stablecoin market."
Brad Garlinghouse, CEO of Ripple, July 2, 2025, on Twitter
How is the stablecoin trend developing in the United States and its impact on Ripple?
The United States is witnessing a wave of 'Stablecoin Summer' as the current administration relaxes regulations and Congress moves towards passing related laws.
Many large tech corporations are also exploring and testing stablecoin applications. In this context, the collaboration between Ripple and BNY Mellon is a timely move to capitalize on the interest from U.S. institutions and corporations.
What does the expansion of services for RLUSD by AMINA Bank mean?
AMINA Bank, a licensed bank in Switzerland and regulated by FINMA, has implemented custody and trading of RLUSD, helping this stablecoin achieve global coverage.
With a secure technological foundation and a client portfolio that includes institutional investors, AMINA's participation in the RLUSD ecosystem reinforces international trust and accessibility for the European market and beyond.
What next steps will Ripple take to develop RLUSD?
With the support of BNY Mellon and strong growth momentum, Ripple aims to soon bring RLUSD to a market capitalization of 1 billion USD.
This not only affirms RLUSD's stable position in the stablecoin market but also reflects Ripple's long-term direction towards deeper integration with the global financial system.
Frequently Asked Questions
What is RLUSD?
RLUSD is a stablecoin backed 1:1 by cash and U.S. government bonds, focusing on stability and transparency for financial transactions.Why is BNY Mellon important for RLUSD?
BNY Mellon is a prominent custodian with the reputation and experience to safeguard assets, helping RLUSD enhance its reliability and comply with regulations.What are Ripple's plans with the U.S. banking system?
Ripple is seeking a national bank charter as well as a primary account at the Fed to increase integration with the traditional financial system.Where is RLUSD used?
This stablecoin is being integrated into the Ripple ecosystem and can be traded and custodied at major banks like AMINA Bank in the global market.What is the current trend of stablecoin development in the United States?
The United States is opening up to stablecoins as regulations are relaxed and many large businesses begin exploring this cryptocurrency application.
Source: https://tintucbitcoin.com/ripple-chon-bny-mellon-ho-tro-rlusd/
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