BNY Now Custodies XRP for Institutions, Plans Direct RLUSD Minting With Ripple
By Unchained
AI summary of the source article
BNY now holds XRP and RLUSD for institutional clients on its Digital Asset Custody platform. The bank also plans to let clients directly mint and redeem RLUSD, subject to regulatory and bank approvals.
Why it matters
Monica Long, Ripple's president, said the aim is to make tokenized assets “usable for payments and collateral across financial markets,” while BNY's Carolyn Weinberg said the collaboration is meant “to shape a more continuous, efficient and resilient financial system.”
Key facts
- BNY has added custody support for XRP and RLUSD for institutional clients on its Digital Asset Custody platform.
- BNY and Ripple plan to enable BNY clients to mint and redeem RLUSD directly without leaving the bank, pending regulatory approvals.
- Ripple and BNY are exploring a tokenized supply chain finance project on the XRP Ledger with C2FO.
Source excerpt · Unchained
The bank that already holds reserves for Ripple's stablecoin added XRP and RLUSD to its custody platform, while broader XRP Ledger plans and a C2FO trade finance effort remain at an early stage. The post BNY Now Custodies XRP for Institutions, Plans Direct RLUSD Minting With Ripple appeared first on Unchained .