BNY now supports custody of XRP and RLUSD on its Digital Asset Custody platform, according to a joint announcement with Ripple on October 27. BNY was already RLUSD’s primary reserve custodian and has a separate custody relationship with Ripple Prime.
The companies intend to explore direct RLUSD minting and redemption for BNY clients, subject to final bank and regulatory approvals. They also plan to examine tokenized receivables and a supply-chain-finance initiative with C2FO. Those proposed services are not described as finished or in widespread use, and the expanded custody support is not a regulatory endorsement of XRP.
