Ripple Selects BNY to Custody Ripple USD Reserves

Ripple has appointed BNY Mellon as the primary custodian for the reserves backing its US dollar-pegged stablecoin, RLUSD, bringing institutional-grade custody from America's oldest bank to its digital asset infrastructure.

BNY Mellon, one of the world's largest custody banks with over $50 trillion in assets under custody, will safeguard the dollar reserves that back RLUSD on a one-to-one basis. The appointment provides institutional investors and business users with assurance that RLUSD's reserves are held by a highly regulated, systemically important financial institution.

The custody arrangement addresses one of the key concerns surrounding stablecoins: the quality and transparency of reserve management. By partnering with BNY Mellon, Ripple elevates the credibility of RLUSD's reserve structure to a level that is difficult for competitors to match, particularly those using less regulated custody providers.

BNY Mellon has been building its digital asset capabilities over several years, including launching digital asset custody services for institutional clients. The Ripple partnership extends these capabilities to stablecoin reserve custody, a growing business as stablecoin issuance volumes expand globally.

Ripple has been investing in building the institutional infrastructure around RLUSD, including partnerships with financial infrastructure providers, payment platforms, and now a custody arrangement with one of the world's most established financial institutions. The strategy aims to position RLUSD as a premium stablecoin for institutional and enterprise use cases.

The appointment is expected to strengthen institutional confidence in RLUSD and support its adoption for cross-border payments and treasury management.