TLDR:
RLUSD will be backed 1:1 by liquid assets and operate under NYDFS oversight.
BNY Mellon will handle custody and settlement for Ripple’s enterprise stablecoin.
RLUSD is designed to serve institutional clients and cross-border payments.
Partnership combines Ripple’s blockchain tools with BNY Mellon’s banking infrastructure.
Ripple has named BNY Mellon as the primary custodian for reserves backing its new enterprise-grade stablecoin, RLUSD.
The partnership brings together two financial heavyweights aiming to drive stablecoin adoption in traditional markets. Ripple seeks to position RLUSD as a trusted digital dollar for global institutional finance. BNY Mellon’s involvement signals growing interest from established banks in stablecoin infrastructure.
Together, the firms intend to merge regulatory compliance with operational scale in the digital asset space.
RLUSD Targets Institutional-Grade Adoption
Ripple introduced RLUSD as a stablecoin designed for enterprise-grade use cases, with a focus on regulated cross-border payments. Unlike retail-focused stablecoins, RLUSD will operate under the New York Department of Financial Services Trust Company Charter, offering strong regulatory oversight.
Ripple stated that RLUSD would be backed 1:1 by high-quality liquid assets. These include cash and cash equivalents, with independent audits, asset segregation, and clear redemption policies in place. The company noted that this approach aims to meet the strict requirements of financial institutions and regulators.
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
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— Ripple (@Ripple) July 9, 2025
BNY Mellon will take charge of managing RLUSD’s reserves, leveraging its deep experience in custody services. Ripple said the bank will help ensure operational transparency and compliance by offering secure and efficient custody infrastructure.
BNY Mellon’s Global Head of Asset Servicing, Emily Portney, emphasized the bank’s focus on meeting the evolving needs of institutional clients in the digital asset ecosystem. She noted that BNY Mellon’s platform is built to support the future of finance through secure, scalable systems.
Ripple will also use BNY Mellon’s transaction banking services to power RLUSD operations, enhancing settlement efficiency and reliability across its payment network.
Strengthening Digital Asset Infrastructure
Ripple described the collaboration as a shared step toward building a secure foundation for institutional-grade digital finance.
Jack McDonald, Ripple’s Head of Stablecoins, said the partnership addresses a major market need for stablecoins designed to support enterprise-level payment systems.
The company added that RLUSD’s infrastructure aligns with its broader mission to modernize global payments by using compliant blockchain-based tools. Ripple believes that combining its payment tech with BNY Mellon’s traditional finance infrastructure sets a new benchmark in stablecoin utility.
Ripple’s move reflects a growing trend of stablecoin issuers seeking trusted banking partners to meet rising demand in regulated markets. By aligning with a legacy institution like BNY Mellon, Ripple aims to build institutional confidence in RLUSD from the outset.
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