Just in: Ripple announces major custody move for RLUSD

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.