Ripple Selects BNY Mellon as Primary Custodian for RLUSD Reserves

Key Points

1. Ripple appointed BNY Mellon as the primary custodian for RLUSD reserves, leveraging the bank's expertise in digital asset infrastructure.

2. RLUSD is designed for institutional-scale use, issued under a NYDFS Trust Company Charter to meet financial institutions' operational and risk requirements.

3. BNY Mellon's involvement strengthens RLUSD's credibility, with the bank providing proven custody infrastructure and stablecoin servicing.

4. Switzerland-based AMINA Bank became the first international lender to offer custody and trading services for RLUSD, with plans to expand related services.

5. RLUSD has also gained regulatory approval from Dubai’s financial regulator, indicating broader adoption and regulatory compliance.