Ripple Taps BNY Mellon as Primary Custodian for RLUSD Reserves, Strengthening Institutional Stablecoin Infrastructure

Ripple, a leading force in digital asset infrastructure for financial institutions, has announced a strategic partnership with The Bank of New York Mellon Corporation (BNY Mellon)—one of the world’s foremost financial services providers. As part of this collaboration, BNY Mellon will serve as the primary custodian for Ripple USD (RLUSD) reserves, reinforcing a shared vision to drive institutional adoption of digital assets and bridge the gap between traditional finance and blockchain-based systems.

RLUSD: A Stablecoin Built for Enterprises

Unlike stablecoins focused on retail usage, RLUSD is an enterprise-grade digital asset purpose-built to improve the efficiency, speed, and cost-effectiveness of cross-border transactions. Issued under a New York Department of Financial Services (NYDFS) Trust Company Charter, RLUSD is rooted in transparency, regulatory compliance, and real-world utility—making it a trusted solution for financial institutions worldwide.

BNY’s Role: Beyond Custody

In its new role, BNY Mellon will oversee the safekeeping of RLUSD’s reserves, bringing its robust digital infrastructure, experience, and technological capabilities to the partnership. The institution will also provide transaction banking services to support RLUSD operations, including facilitating seamless conversions and reserve asset movements—key to maintaining liquidity and trust in stablecoin systems.

This collaboration enhances BNY’s broader strategy of building interoperable solutions between digital assets and traditional financial ecosystems. With a solid track record in digital custody and stablecoin infrastructure, BNY is positioning itself as a pivotal player in shaping the future of finance.

Leadership Insights

Jack McDonald, SVP of Stablecoins at Ripple, emphasized the unique position of RLUSD:

“Ripple USD addresses a critical gap in the market as a stablecoin developed for enterprise-grade financial use cases. BNY brings both technical and institutional credibility, making it the ideal partner for supporting RLUSD.”

Emily Portney, Global Head of Asset Servicing at BNY Mellon, shared the company’s outlook:

“BNY is committed to building end-to-end solutions for digital asset management. Supporting RLUSD reflects our continued push to integrate traditional finance with emerging digital ecosystems.”