Ripple and BNY are broadening their partnership to integrate XRP and the RLUSD stablecoin into the BNY Digital Asset Custody platform. This expansion builds upon their existing cooperation, which already covers the custody of RLUSD reserves and a service agreement with Ripple Prime.
The collaboration aims to enable BNY clients to mint and redeem RLUSD directly through the bank. Furthermore, the companies intend to investigate institutional applications for the XRP Ledger, including blockchain-based payment systems, settlement processes, and collateral management workflows.
A key focus of the partnership is the development of tokenized trade finance solutions. The initiative seeks to use blockchain technology to represent trade receivables digitally, with an initial project involving the global working-capital platform C2FO to improve investor access to receivables.
