Back to collectionBNY Adds XRP and RLUSD Custody as Trade-Finance Work Remains Exploratory
BNY now supports XRP and RLUSD in digital custody, while Ripple, BNY and C2FO are only exploring a tokenized receivables initiative.
Ripple and BNY announced an expanded collaboration on October 27. BNY says its Digital Asset Custody platform now supports XRP and RLUSD for eligible institutional clients, extending an existing relationship in which BNY serves as primary reserve custodian for RLUSD and provides custody to Ripple Prime.
The trade-finance portion is earlier-stage. BNY and Ripple intend to explore tokenized trade-finance uses on the XRP Ledger, subject to client needs, and are examining a supply-chain finance initiative with C2FO around approved receivables. The announcement does not say that this initiative is deployed, that assets have been financed, or that clients can already mint and redeem RLUSD through BNY; those remain intended future steps subject to approvals.