Ripple’s RLUSD Explodes Past $500M – BNY Mellon Now Custodian of Stablecoin Reserves

Ripple just handed Wall Street a masterclass in crypto adoption—hiring banking giant BNY Mellon to safeguard RLUSD reserves as its stablecoin surges beyond $500M.

Why it matters: When legacy finance starts playing custodian for decentralized assets, you know the lines are blurring fast. The same institutions that once scoffed at 'internet money' now queue up to hold the bags.

The cynical take: Nothing convinces bankers like seeing commas in a balance sheet. Three zeros and suddenly 'volatile crypto' becomes 'innovative digital assets.'

What's next: Watch how fast other stablecoins scramble to copy this playbook—nothing legitimizes like a 138-year-old bank's stamp of approval.

Key Takeaways

• RLUSD topped $500M in circulation as Ripple tapped BNY Mellon for institutional-grade custody. With Emirates adopting crypto payments soon, is RLUSD eyeing a bigger role in global settlement?

While XRP may still be struggling to reignite FOMO, its stablecoin RLUSD has quietly climbed into the top ten stablecoins by market cap. In fact, it recently hit an all-time high of $500 million.

Fully pegged 1:1 to the U.S. dollar, that translates to 500 million RLUSD now in circulation. While it still sits below giants like USDT and USDC, according to AMBCrypto, this kind of growth points to strategic positioning, not just market noise.

Combine that with Emirates Airline’s bold move to onboard crypto payments, and you’re looking at early signs of real-world adoption. So, is RLUSD quietly becoming a sleeper contender in the stablecoin race?

RLUSD hits $500M as Ripple brings BNY Mellon on board

This week feels like a real turning point for Ripple as it pushed deeper into traditional finance.

As flagged by AMBCrypto, Ripple has applied for a U.S bank license, marking a big step that WOULD let it hold RLUSD reserves directly at the Fed. The goal? Launch RLUSD, not just as a crypto-native asset, but one built for regulatory clarity.

To back that up, Ripple has partnered with BNY Mellon, one of the largest and oldest custodial banks globally, managing over $45 trillion in assets. This marks another strategic MOVE to anchor RLUSD within regulated financial infrastructure.

In Q3 so far, RLUSD’s market cap has doubled, with it kicking off July at a record $500 million. With institutional-grade custody now in place, Ripple is clearly positioning RLUSD for deeper integration into TradFi rails.

Source: CoinMarketCap

Meanwhile, with the GENIUS Act gaining traction, regulatory focus on stablecoins is intensifying. As use cases expand, stablecoins are increasingly being seen as a systemic challenge to the U.S. dollar.

According to AMBCrypto, Ripple isn’t just trying to make RLUSD a leader in digital finance. It’s also making sure the stablecoin plays by the rules from day one, building for scale, but also for long-term legitimacy.

Flagship gulf airline moves towards crypto adoption

A strong signal of “digital finance’s next evolution” came as Emirates Airlines signed an MoU with Crypto.com to integrate Crypto.com Pay into its systems.

Set to roll out in 2026, the partnership aims to enable direct crypto payments for flight bookings. While Emirates hasn’t confirmed if RLUSD will be part of its setup, the move still points to how real-world use cases for crypto are picking up fast.

Ripple, keen to stay competitive, isn’t sitting still either. Following the news, XRP snapped out of a multi-week range and rallied towards the key $2.50 supply zone.

Source: TradingView (XRP/USDT)

Clearly, partnering with BNY Mellon isn’t just a flex. Instead, it’s Ripple laying serious groundwork. And with RLUSD crossing the $500 million mark, the strategy is already showing results.

As a result, by balancing XRP’s speculative momentum with RLUSD’s stability, Ripple looks to be positioning itself at the forefront of the next big shift in digital finance.