Ripple has announced the Bank of New York Mellon Corporation (BNY Mellon) as the primary reserve custodian for its RLUSD stablecoin. This strategic partnership significantly enhances RLUSD’s institutional credibility and market positioning within the stablecoin landscape.
RLUSD, designed specifically for high-volume cross-border payments, offers enhanced liquidity and transaction speed backed by institutional-grade safeguards. The collaboration leverages BNY Mellon’s renowned custodial expertise alongside Ripple’s established blockchain infrastructure, aiming to set a new standard for secure and compliant stablecoin solutions.
Demonstrating rapid adoption, RLUSD has surpassed a $500 million market capitalization in just over six months, currently ranking as the eighth-largest stablecoin by market cap. Concurrently, Ripple’s native token XRP exhibited positive price momentum following the announcement, reaching $2.35 with technical analysis suggesting potential targets of $2.45 and $2.62 if trading volume sustains.
The partnership underscores to building to building to building RLUSD as a trusted instrument for institutional and cross-border financial flows, combining traditional finance reliability with blockchain efficiency.