Ripple Appoints BNY Mellon to Custody RLUSD Stablecoin

Andrew Chen
Ripple

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Key Takeaways:

  • RLUSD reserve assets are now managed by one of the most trusted names in global finance, enhancing transparency and operational confidence.
  • RLUSD is approved in the U.S., Dubai, and Switzerland, with support from institutions like AMINA Bank.
  • Ripple’s stablecoin is designed for enterprise use, offering secure, dual-chain functionality for compliant cross-border payments.

Ripple has appointed global financial giant BNY Mellon as the primary custodian for its U.S. dollar-backed stablecoin, RLUSD. The partnership secures the token’s reserve assets—comprised solely of cash and short-term U.S. Treasury bills—in segregated accounts, audited by third parties.

This strategic move ensures that RLUSD maintains a 1:1 backing with the U.S. dollar, providing both liquidity and transparency. The appointment also includes transaction banking services, allowing Ripple to streamline minting, redemption, and other operational processes.

Regulatory Growth Across Global Markets

Launched in December 2024, RLUSD is issued under a New York Department of Financial Services (NYDFS) Trust Company Charter—placing it under one of the most rigorous state regulatory frameworks in the U.S. Earlier in 2025, RLUSD secured approval for issuance in Dubai.

In Europe, Switzerland’s AMINA Bank became the first lender to support custody and trading for the stablecoin, signaling its growing institutional trust. RLUSD is positioning itself as a global, compliant stablecoin suited for highly regulated environments.

Built for Enterprise, Not Retail

Unlike retail-focused stablecoins, RLUSD is tailored for enterprise clients requiring fast, low-cost, cross-border transactions. It supports both Ethereum and XRP Ledger (XRPL), offering dual-chain flexibility for global settlements.

Ripple emphasizes that RLUSD was built with compliance and institutional requirements in mind. With more than $500 million now in circulation, the stablecoin is gaining traction among financial institutions looking for blockchain-integrated alternatives to traditional payment rails.

Also Read: Ripple Launches XRPL EVM Sidechain

BNY Mellon Deepens Digital Asset Footprint

BNY Mellon began its digital asset journey in 2021 and now plays a leading role in servicing institutional-grade crypto infrastructure. In addition to holding RLUSD reserves, the bank will facilitate liquidity management and provide transaction support for Ripple.

The collaboration reflects a broader industry trend: the convergence of traditional financial institutions and digital assets. BNY Mellon, which recently reported holding over $13 million in crypto ETFs, is positioning itself as a key player in the future of tokenized finance.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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