BNY Supports XRP and RLUSD Custody, Explores Tokenized Trade Finance with Ripple

Odaily report: According to an official Ripple announcement, The Bank of New York Mellon (BNY) has added support for XRP and the USD stablecoin RLUSD on its digital asset custody platform, allowing eligible institutional clients to safekeep, hold, and transfer related assets through the platform. The two parties are further expanding their digital asset collaboration on top of their existing RLUSD reserve custody and Ripple Prime custody partnership. BNY plans to expand support for tokenized assets and investment products on the XRP Ledger (XRPL), and is working with Ripple to enable clients to mint and redeem RLUSD directly through BNY in the future. The two parties are also exploring an XRPL-based supply chain financing solution with working capital platform C2FO, tokenizing trade finance assets such as accounts receivable to broaden investor access.