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Ripple Selects $43 Trillions Asset Custodian for RLUSD Reserves
July 9, 2025 | By Solomon Odunayo
In a significant development in the cryptocurrency and blockchain space, Ripple has recently announced that it has selected BNY Mellon as the primary reserves custodian for its newly launched RLUSD stablecoin. This partnership further underscores the growing importance of institutional backing for digital assets.
As per the announcement, BNY Mellon will be responsible for providing secure custody and administration services for Ripple’s RLUSD reserve holdings. With over $43 trillion in traditional assets under custody, this partnership solidifies the bank’s role as a trusted custodian for a significant portion of the global financial system.
The RLUSD stablecoin is designed to provide enterprise-grade, U.S.-dollar-backed digital currency functionality that enables seamless and compliant transactions across Ripple’s platforms. This move demonstrates Ripple’s commitment to delivering reliable and regulatory-aligned digital asset infrastructure to financial institutions and enterprises worldwide.
Ripple emphasized that BNY Mellon was chosen due to its long-standing reputation for providing secure, regulated environments for the safekeeping of financial assets. The bank’s services include asset servicing, fund administration, and settlement solutions for institutional investors, government entities, and corporations.
BNY Mellon has also demonstrated a keen interest in blockchain-based financial instruments by establishing a framework for digital asset custody. This move is seen as a significant step towards mainstream adoption of cryptocurrencies.
This new partnership between Ripple and BNY Mellon represents the growing recognition that blockchain and cryptocurrency technology can no longer be ignored or dismissed.
Source: timestabloid.com
