Ripple taps BNY to custody stablecoin reserves as RLUSD surpasses $500M
2025-07-11 05:05:16
Main Idea
Ripple's stablecoin RLUSD has reached a market cap of $500 million, with strategic moves including a partnership with BNY Mellon for custody and regulatory compliance, positioning it for deeper integration into traditional finance.
Key Points
1. RLUSD has quietly entered the top ten stablecoins by market cap, reaching an all-time high of $500 million, fully pegged 1:1 to the U.S. dollar.
2. Ripple has partnered with BNY Mellon, a major custodial bank managing over $45 trillion in assets, to anchor RLUSD within regulated financial systems.
3. Ripple has applied for a U.S. bank license to hold RLUSD reserves directly at the Fed, aiming to launch it as a regulatory-compliant asset.
4. Emirates Airline has signed an MoU with Crypto.com to integrate crypto payments, indicating early signs of real-world adoption for stablecoins like RLUSD.
5. RLUSD's market cap has doubled in Q3, with institutional-grade custody now in place, signaling Ripple's strategy for deeper TradFi integration.
Description
Is RLUSD being built to become the future backbone of traditional finance?
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