Ripple recently announced that BNY Mellon, the world’s largest custodian with over $43 trillion in traditional assets under custody, has been selected as the primary reserves custodian for its newly launched RLUSD stablecoin.
According to Ripple, RLUSD is an enterprise-grade, U.S. dollar-backed stablecoin developed to provide compliant and scalable utility in real-world financial operations.
The stablecoin is designed to function across Ripple’s platforms and support institutional use cases, particularly in cross-border settlement and treasury management.
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’s announcement emphasized that selecting BNY Mellon as the reserve custodian for RLUSD represents a foundational move in integrating digital assets with traditional financial infrastructure.
The company cited BNY Mellon’s long-standing reputation, regulatory compliance, and operational scale as key reasons for the partnership. Ripple framed the development as part of its broader effort to deliver reliable and regulatory-aligned digital asset infrastructure for financial institutions and enterprises globally.
About BNY Mellon
BNY Mellon, one of the most established financial institutions in the United States, has long held a central role in the global financial infrastructure through its custodial and settlement services.
With over $43 trillion in traditional assets under custody and administration, BNY Mellon is recognized as the world’s largest custodian. Additionally, the bank facilitates over $2 trillion in payments cleared and settled daily. These figures underscore the institution’s scale and its deeply integrated role in both traditional and modern financial ecosystems.
BNY Mellon’s custodial operations are designed to provide secure, regulated environments for the safekeeping of financial assets. Its services include asset servicing, fund administration, and settlement solutions for institutional investors, government entities, and corporations.
In recent years, BNY Mellon has also moved to establish a framework for digital asset custody, reflecting a shift in institutional readiness for blockchain-based financial instruments.
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