Ripple Taps BNY Mellon to Custody RLUSD, Boosting Stablecoin Trust

Ripple has teamed up with global banking giant BNY Mellon to custody the reserves for its stablecoin, RLUSD. Announced on July 9, the partnership marks a significant move toward building trust and credibility around Ripple’s enterprise-grade stablecoin. The goal is to bridge traditional finance and crypto with strong infrastructure and regulatory compliance.

Ripple chose BNY Mellon as the primary custodian for RLUSD reserves. Ripple chose BNY Mellon as the primary custodian for RLUSD reserves. BNY Mellon is one of the world’s oldest and most trusted financial institutions. Which manages over $45 trillion in assets.

The move signals that Ripple wants to go beyond crypto-native custody options. By involving a traditional financial powerhouse, Ripple is showing it’s serious about institutional adoption and transparency.

Stablecoin Built for Real Utility, Not Just Hype

RLUSD stands apart from retail-focused stablecoins like USDT or USDC. Ripple designed it specifically for enterprise use, especially in cross-border payments. It also holds a rare distinction: Ripple issued it under a New York Department of Financial Services (NYDFS) Trust Charter. That’s a big deal in terms of compliance and oversight. Ripple says RLUSD will improve payment speed, cut costs, and boost efficiency for financial institutions using its infrastructure.

BNY Mellon Backs the Future of Finance

For BNY Mellon, this partnership is more than just a business deal. It’s a clear vote of confidence in crypto infrastructure. “As primary custodian for RLUSD, we’re proud to support the growth of digital assets,” said Emily Portney, Global Head of Asset Servicing at BNY Mellon. She added that the bank’s platform is built to serve institutions entering the digital asset space, and RLUSD fits right in.

Security, Compliance, and Clarity for Institutions

What makes RLUSD stand out? It comes with full 1:1 USD backing by high-quality liquid assets. Ripple says reserves are managed with tight safeguards, third-party audits, and clear redemption rights. That kind of structure is exactly what institutions and regulators want to see. 

It’s not about hype, it’s about long-term trust and usability. Jack McDonald, Ripple’s SVP of Stablecoins, said RLUSD fills a key market gap. He noted that BNY’s expertise and innovation make it the ideal partner for Ripple’s stablecoin efforts.

A Bigger Vision for Ripple and the Crypto Industry

This partnership could set the tone for future stablecoin models focused on compliance, utility, and enterprise scale. Ripple has already carved out a name for itself in cross-border payments. Now, RLUSD, with BNY Mellon’s backing, could position Ripple to become a central player in the future of institutional crypto finance. By linking crypto rails with legacy systems, this partnership aims to bring both trust and traction to the stablecoin space.