- BNY will broaden support for tokenized assets and investment products on the XRP Ledger, building on its existing role as primary custodian of RLUSD reserves.
- BNY will enable direct RLUSD minting and redemption through its platform, giving institutional clients a bank-grade on-ramp and off-ramp for the Ripple stablecoin.
- Both firms are advancing tokenized trade finance on XRPL, including a C2FO supply chain initiative under which suppliers receive financing through Ripple’s Instant Pay product in seconds.
- The expanded arrangement accompanies Ripple’s OCC final approval for Ripple National Trust Bank and the launch of a 24/7 AI-powered treasury platform.
BNY, the world’s largest custodian bank by assets under custody, is expanding its partnership with Ripple across multiple areas of its digital asset business.
BREAKING: $BNY expands strategic collaboration with @Ripple across digital asset custody to now include @XRP, and explore new institutional use cases for blockchain technology, including tokenized trade finance.
Learn more: https://t.co/LXlIp1bIPv
$RLUSD $XRPL
— BNY (@BNYglobal) October 27, 2026
BNY already serves as primary custodian of the U.S. dollar deposits and government securities backing the RLUSD stablecoin and already supports XRP and RLUSD custody on its digital asset platform.
The expanded arrangement will see BNY broaden support for tokenized assets and investment products built on the XRP Ledger, deepening integration between Ripple’s blockchain infrastructure and BNY’s institutional banking services.
Trade finance is coming to the XRP Ledger!
Today, we’re expanding our collaboration with @BNYglobal across custody and tokenized trade finance, bringing BNY’s institutional scale together with $RLUSD, @XRP and the XRP Ledger.
→ https://t.co/0wOltZclRj https://t.co/3LRULGEuqO
— Ripple (@Ripple) October 27, 2026
Direct RLUSD Minting & Redemption Via BNY Platform
A key new element of the partnership is that BNY will enable its institutional clients to mint and redeem RLUSD directly through the BNY platform.
This removes the need for clients to interact with third-party issuance infrastructure, giving large financial institutions a bank-operated on-ramp and off-ramp for the stablecoin.
BNY will also continue to act as collateral trustee for RLUSD reserves, providing independent verification that the stablecoin’s backing assets are properly held and accounted for on behalf of token holders.
C2FO Supply Chain Finance & Tokenized Trade
The partnership extends into trade finance through a supply chain initiative with C2FO, a working capital marketplace. The project will move financing and settlement for C2FO’s Instant Pay product onto the XRP Ledger using RLUSD as the settlement currency.
Under the arrangement, suppliers submit invoices and receive payment in seconds rather than waiting the standard days or weeks for bank wire processing.
The deal accompanies Ripple’s receipt of final OCC approval for Ripple National Trust Bank, its federally supervised trust institution, and the launch of a 24/7 treasury platform with artificial intelligence tools for institutional clients.
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