The post BNY Mellon Named Custodian for Ripple’s RLUSD Stablecoin appeared on BitcoinEthereumNews.com.

Ripple, a leading enterprise blockchain company, has taken a major leap in cementing its status within the institutional financial sector by appointing BNY Mellon as the primary custodian for the reserves supporting its U.S. dollar-pegged stablecoin, RLUSD. BNY Mellon: A Trusted Name in Asset Custody On July 9, Ripple formally announced that the Bank of New York Mellon, the oldest bank in the United States and a global leader in asset servicing, would safeguard the RLUSD reserves. These reserves are comprised solely of cash and short-term U.S. Treasuries, held in segregated, auditable accounts. This institutional-grade custody framework is designed to: Provide robust transparency for RLUSD holders Ensure liquidity and seamless redemption processes Instill confidence among regulators, enterprises, and investors Jack McDonald, Ripple’s SVP of stablecoins, emphasized that BNY Mellon’s “demonstrable custody expertise and strong commitment to financial innovation” were decisive factors in the partnership. Emily Portney, BNY Mellon’s global head of asset servicing, highlighted the bank’s excitement to “support the growth and adoption of RLUSD by facilitating the seamless movement of reserve assets and cash for conversions, working closely with Ripple to advance the future of the financial ecosystem”. Institutional Trust and Regulatory Alignment This collaboration is not just about technical custody; it represents a significant vote of confidence from the world’s institutional banking sector in the stability and regulatory compliance of Ripple’s offerings. RLUSD is regulated by the New York Department of Financial Services and is designed to provide a fast, low-fee, and transparent means of settlement for enterprises operating across borders. Ripple’s choice to work with BNY Mellon was strategic, aligning with its recent application for a national banking charter in the U.S. and its pursuit of a Federal Reserve master account. Achieving these milestones would allow Ripple to connect RLUSD reserves directly to central banking infrastructure, further…

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Filed under: News - @ July 17, 2025 5:28 pm