Ripple Names BNY Mellon as RLUSD Reserve Custodian

Ripple has officially appointed the Bank of New York Mellon Corporation (BNY Mellon) as the primary custodian for its RLUSD stablecoin reserves. This move reflects Ripple’s strategic focus on deepening institutional partnerships to strengthen its financial infrastructure.

According to a recent announcement, BNY Mellon will not only safeguard RLUSD reserves but also offer transaction banking services to Ripple. These services will support Ripple’s broader operational goals and enhance its ability to deliver seamless financial solutions to enterprise clients.

Ripple has selected @BNYglobal as the primary reserves custodian for $RLUSD, an enterprise-grade stablecoin built for real-world utility, supported by one of the largest and most trusted financial services companies in the world. https://t.co/T2ZWkvb9cL

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— Ripple (@Ripple) July 9, 2025

Partnership Aims to Boost Institutional Crypto Adoption

Ripple and BNY Mellon are collaborating to accelerate the adoption of digital assets by major financial institutions. Their partnership aims to bridge the gap between the traditional financial system and emerging cryptocurrency solutions, setting the stage for more mainstream integration of blockchain-powered tools.

Launched in December 2024, RLUSD is among the select few global stablecoins issued under the New York Department of Financial Services (NYDFS) Trust Company Charter. Unlike most retail-oriented stablecoins, RLUSD was specifically developed for enterprise-level cross-border payments. Ripple created RLUSD to reduce the cost, friction, and delays often associated with international money transfers.

Minting Activity Signals Surging Demand

Ripple’s stablecoin has seen a notable rise in demand this month. Since July began, 46 million RLUSD have been minted, with 16 million tokens created in the past 24 hours alone. This sharp increase in minting activity suggests growing confidence in the asset’s utility and trustworthiness.

💵💵💵💵💵💵💵 16,000,000 #RLUSD minted at RLUSD Treasury.https://t.co/rOsz6FYuzN
— Ripple Stablecoin Tracker (@RL_Tracker) July 8, 2025

Data from a community-run X account, Ripple Stablecoin Tracker, confirms these figures. On July 2 and 3, Ripple minted 14 million and 16 million RLUSD, respectively. In total, RLUSD has now surpassed $500 million in market capitalization, according to CoinMarketCap.

Meanwhile, Ripple is pursuing a national banking charter in the United States. This move could significantly expand RLUSD’s role in the broader financial ecosystem. By integrating banking-grade infrastructure and providing regulatory clarity, Ripple may enhance RLUSD’s acceptance among institutions seeking stable and compliant digital assets.

Lanre Durojaiye

Mr. Durojaiye Olusola is a finance graduate and cryptocurrency writer with over a year of experience providing market insights and clear, well-researched analysis. Dedicated to helping readers understand blockchain trends and digital asset developments.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.