Ripple & BNY Mellon Seal $500M RLUSD Custody Deal—A Watershed Moment for Crypto Banking

Wall Street meets blockchain in a game-changing custody play.

Ripple just locked down a $500 million custody agreement with banking giant BNY Mellon for its RLUSD stablecoin—the largest institutional crypto custody deal of 2025. This isn't just vault storage; it's a full-service custody solution from America's oldest bank, complete with regulatory compliance firewalls and 24/7 liquidity access.

The fine print that matters:

- BNY Mellon will custody RLUSD reserves across multiple jurisdictions

- Includes real-time attestation and audit trails (take that, Tether)

- Opens door for institutional yield products backed by RLUSD

One banking exec whispered 'We're finally treating crypto like the $10 trillion asset class it's becoming'—while quietly moving his own bonus into BTC. The custody arms race is officially on: BlackRock and State Street are now scrambling to match this play.

Last thought? When legacy banks fight to hold your bags, you're no longer the future—you're the present. Even if their compliance departments still use fax machines.

• Ripple selected BNY Mellon to manage RLUSD’s $500M reserves for institutional-grade use.
• RLUSD aims to improve cross-border payments with full compliance and transparency.
• The stablecoin is backed 1:1 with USD and operates under NYDFS regulations.

Ripple has officially named The Bank of New York Mellon (BNY Mellon) as the lead reserve custodian of its future stablecoin, RLUSD. This selection comes with the administration of some $500 million in support assets, which speaks to the company’s serious intentions to position RLUSD as an enterprise-grade digital currency champion.

The collaboration pits the company against one of international finance’s most experienced brands. BNY Mellon, listed on the NYSE under the ticker symbol BK, brings centuries-old custody solutions and a growing digital asset infrastructure footprint to the equation.

Ripple has selected @BNYglobal as the primary reserves custodian for $RLUSD, an enterprise-grade stablecoin built for real-world utility, supported by one of the largest and most trusted financial services companies in the world. https://t.co/T2ZWkvb9cL

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The stablecoin RLUSD has been designed to have compliance and utility, and it’s one of the very few in existence that have been launched under a Trust Company Charter granted by the New York Department of Financial Services (NYDFS).

Jack McDonald, Ripple’s Senior Vice President of Stablecoins, said:

BNY brings together demonstrable custody expertise and a strong commitment to financial innovation in this rapidly changing landscape, as well as a forward-thinking approach to digital asset infrastructure, making them the ideal partner for Ripple and RLUSD.

Ripple Unveils RLUSD to Fix Cross-Border Payment Inefficiencies

RLUSD differs from other retail-led stablecoins such as USDT or USDC. It aims primarily at the institutional market, particularly cross-border payments, which are still plagued by delays, high expenses, and inefficiencies.

The company aims to resolve such issues through RLUSD’s 1:1 support by liquid USD assets and strong in-house protections.

Ripple’s transparency focus includes third-party audits, full segregation of assets, and redemption rights that are explicitly defined. All of these features are institutionally compliant and abide by regulatory imperatives. RLUSD’s architecture is tailored to offer more control, promptness, and cost efficiency for cross-border payments.

Emily Portney, BNY Mellon’s Global Head of Asset Servicing, described the partnership as fitting well within BNY’s broader strategy to digitalize financial services and to spur institutional-grade digital asset adoption.

BNY Mellon’s Expanding Role in Digital Assets

The incorporation of BNY Mellon adds more credibility to RLUSD’s platform. It has also continued to expand its engagement in digital currency. It also currently has stablecoin custody services and has remained keen on systems that are based on blockchain.

Through RLUSD, BNY Mellon will not only provide secure reserve management but also transaction banking capabilities for Ripple’s broader business.

Now that the company is set to accelerate RLUSD’s distribution, BNY’s participation should attract more enterprise interest and will most likely place Ripple in contention in the battle for regulated stablecoins.