Just in: Ripple announces major custody move for RLUSD
2025-07-09 12:31:05
Main Idea
Ripple has announced that the Bank of New York Mellon Corporation will serve as the primary custodian for Ripple USD (RLUSD) reserves, enhancing institutional adoption and utility of the stablecoin.
Key Points
1. BNY Mellon will be the major reserve custodian for Ripple's RLUSD stablecoin, facilitating institutional adoption.
2. RLUSD is one of the few stablecoins issued under a New York Department of Financial Services (NYDFS) Trust Company Charter.
3. Since July, 46 million RLUSD have been minted, with 16 million minted in just 24 hours, indicating growing confidence in the stablecoin.
4. RLUSD's market capitalization has surpassed $500 million, reflecting increased momentum and adoption.
5. The partnership with BNY Mellon is expected to boost RLUSD's utility within the broader financial ecosystem.
Description
Ripple taps global banking giant for RLUSD stablecoin custody
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