BNY Adds XRP and RLUSD Custody in Ripple Partnership

BNY has expanded its partnership with Ripple by adding XRP and RLUSD custody for eligible institutional clients, while the companies outlined further plans for tokenized trade finance and invoice settlement on the XRP Ledger. The custody service is available through BNY’s Digital Asset Custody platform, allowing clients to hold and transfer both digital assets. The move builds on BNY’s existing role as primary custodian for RLUSD reserves, which the companies said was established in July 2025. Reserve custody covers assets backing the stablecoin; the newly announced service covers institutional clients’ holdings of XRP and RLUSD. Ripple and BNY also intend to explore tokenized trade finance with C2FO, a working-capital platform. The initiative would examine supply-chain financing tied to receivables and whether representing those claims digitally could make them easier to administer and distribute to investors. The work remains exploratory and subject to client requirements. Separately, Ripple and C2FO announced a planned Instant Pay model using RLUSD on the XRP Ledger to settle financing against approved invoices. Participating capital providers would fund early payments to...