XRP Boosted 4% By Ripple's Stablecoin Partnership With BNY

Murtuza J Merchant

July 09, 2025

Ripple (CRYPTO: XRP) has announced that the Bank of New York Mellon (NYSE:BKAG) will serve as the primary custodian for reserves backing its U.S. dollar-pegged stablecoin RLUSD.

This move marks a significant step toward boosting institutional trust in the stablecoin sector, as well as ensuring greater regulatory alignment for Ripple, which issued RLUSD in December 2024.

BNY Mellon, the oldest bank in the United States and a key service provider to institutional clients, will manage the underlying reserve assets and facilitate the liquidity processes behind RLUSD redemptions and conversions, CNBC reported on Wednesday.

The partnership comes at a time of accelerating interest in stablecoins among legacy financial institutions and large corporations.

“BNY is committed to delivering differentiated, end-to-end solutions designed to meet the needs of institutions across the digital assets ecosystem,” said Emily Portney, the bank's global head of asset servicing.

Also Read: Sequans Secures $384M To Launch Bitcoin-Focused Treasury Strategy

She added that the firm is proud to support the infrastructure behind RLUSD and Ripple’s broader efforts in shaping the future of finance.

This collaboration is part of a broader industry shift often dubbed "stablecoin summer," as firms like Amazon, Walmart, Uber, and Apple are reportedly exploring the use or issuance of their own stablecoins.

Regulatory momentum is also building, with the U.S. Congress making headway on stablecoin legislation and the Trump administration rolling back prior crypto restrictions.

Ripple is currently seeking a national banking charter and a Federal Reserve master account, which would allow it to manage reserves directly with the U.S. central bank.

Known for developing cross-border payment infrastructure, Ripple has largely operated internationally and primarily serves banks and fintechs.

BNY Mellon entered the crypto space in 2021, forming a dedicated digital assets division to offer custody and asset servicing solutions for cryptocurrencies like Bitcoin.

Read Next:

Trump Media’s New ‘Crypto Blue Chip ETF’ Filing Comes With A Twist

Image: Shutterstock

Recommended

Google's Next Big Bet? - Ad

These 5 Stocks Are Dripping With Dividends - Ad

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

WASHINGTON (AP) — The U.S. Senate on Wednesday confirmed Bryan Bedford to lead the Federal Aviation Administration, putting him in charge of the federal agency at a precarious time for the airline industry after recent , including the January collision near Washington, D.C. that killed 67 people.

A Georgia election with few voters: Turnout is 'miserably low' in the race for utility regulator

ATLANTA (AP) — Every time the door swings open this week at the county courthouse in the tiny south Georgia town of Statenville, six election workers have a moment to hope that someone is coming to vote.

Copper's Spiking - And This Junior Has the Grades to Match

Copper's Spiking - And This Junior Has the Grades to Match - Ad

Copper is climbing again - and this time, it looks tariff-proof. A $31M junior just posted nearly 1B lbs of copper equivalent. With insiders and institutions piling in, this could be the next breakout.

Ex-Trump Family Attorney Raises Alarms Over Trump's Actions as President: 'I Have Never Been As Concerned'

Abbe Lowell expressed serious concerns about the potential harm that the current administration could cause to the country's institutions.

Nickel Downturn Prompts South32 Divestment, Veteran Investor Eyes Contrarian Opportunity

South32 sells its Cerro Matoso nickel mine in Colombia to CoreX Holding for $100 million as part of its strategy to focus on higher-margin commodities.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Jeff Bezos, Lauren Sanchez Get Married In A $50 Million Wedding In Venice: From Foam Party On His $500 Million Yatch To Goodie Bags, Here's What We Know

Jeff Bezos and Lauren Sánchez's extravagant $50 million wedding in Venice included a foam party on his $500 million yacht.

A judge resisted Trump’s order on gender identity. The EEOC just fired her

The federal agency charged with protecting workers’ civil rights has terminated a New York administrative judge who , including President Donald Trump’s executive order decreeing male and female as .

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune - Ad

A high-grade copper-gold discovery in Quebec just delivered extremely high grade intercepts. Valuation? Just $31M. With copper breaking out, the timing here could be perfect. Get the symbol here.

Elon Musk's SpaceX's Hypersonic Rocket Cargo Delivery Project Dropped By US Air Force

The U.S. Air Force has decided to terminate a project in collaboration with Elon Musk's SpaceX.

Cathie Wood's Alpha Surge: $250 Million Circle Windfall, Big AMD Buys

Cathie Wood, founder and CEO of ARK Invest, has recently been on a hot streak of successful and high-profile trades through her flagship ARK ETFs.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

What's in Trump's big bill that passed Congress and will soon become law

WASHINGTON (AP) — Republicans muscled President Donald Trump's tax and spending cut bill through the House on Thursday, the final step necessary to get the bill to his desk by the GOP's self-imposed deadline of July 4th.

Ex-Obama Treasury Secretary Jack Lew Sounds Alarm On NYC Under Zohran Mamdani: 'I Worry Deeply'

With Zohran Mamdani officially securing the Democratic nomination in the New York City mayoral race, centrist figures within the Democratic party, such as former Treasury Secretary Jack Lew, are raising questions on the city's future under a self-described Democratic Socialist.

Buffett's Favorite Chart Just Hit 209% - Here's What That Means For Gold

Buffett's Favorite Chart Just Hit 209% - Here's What That Means For Gold - Ad

Buffett's favorite market signal just hit its highest level in history-stocks are more overvalued than 1929. He's sitting on $325B in cash... and may be about to buy one overlooked gold miner. I've identified it-plus 4 others with up to 100X potential.

This Everyday Investor Built a $2 Million Portfolio From Just One Stock — Here's the Company

An everyday investor has built a $2 million portfolio by investing exclusively in software firm Palantir.

FDA requires updated warning about rare heart risk with COVID shots

WASHINGTON (AP) — said Wednesday it has expanded existing warnings on the two leading COVID-19 vaccines about a rare heart side effect mainly seen in young men.

Meet the Investor Who Hopes Markets Get Worse

Meet the Investor Who Hopes Markets Get Worse - Ad

Market downturns are painful for most. But not for Jeff Clark... His Crossfire strategy thrives when markets spiral out of control, delivering gains like 388%, 1,263%, and 1,285%... sometimes in as little as two days. If you want to be prepared to profit from the next market downturn, watch his new video walkthrough. He explains the whole thing from beginning to end, and it won't cost you a penny.

Bernie Sanders Shares First Thing He Would Do As President — And It Could Be A Jab At Elon Musk

Bernie Sanders lost the 2016 and 2020 presidential races. In a recent interview, Sanders shared what he would do first if he were president.

Lawmakers Investigate Whether Pfizer Delayed COVID-19 Vaccine Results For Political Reasons

House Judiciary subpoenas ex-Pfizer exec Philip Dormitzer amid claims the COVID-19 vaccine announcement was delayed to avoid influencing the 2020 election.

Is Elon's Empire Crumbling?

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Iran’s president orders country to suspend cooperation with UN nuclear watchdog IAEA

DUBAI, United Arab Emirates (AP) — Iran’s president on Wednesday ordered the country to suspend its cooperation with after American and Israeli airstrikes hit its most-important nuclear facilities, likely further limiting inspectors' ability to track Tehran's program that had been enriching uranium to near weapons-grade levels.

Mark Cuban Raises Employee Wages After Learning Of Government Aid Dependence

Mark Cuban, owner of the NBA's Dallas Mavericks, expressed his dismay upon learning that some of his employees were reliant on government aid programs.

Google's Next Big Bet?

Google's Next Big Bet? - Ad

On Monday, June 30, Google made a historic investment in a tiny, private firm set to generate virtually LIMITLESS energy. Now - thanks to a little-known "backdoor" into this red-hot startup - it's your turn.

California-Trump Legal Battle Over National Guard Deployment Escalates After Court Ruling

California's legal battle with Trump over military deployment in LA is at a standstill after an appeals court ruled in Trump's favor.

OPEC+ to boost oil production by 548,000 barrels per day in August

NEW YORK (AP) — Eight members of the OPEC+ alliance of oil exporting countries say they will boost production by 548,000 barrels per day in August in a move that could further reduce gas prices this year.

These 5 Stocks Are Dripping With Dividends

These 5 Stocks Are Dripping With Dividends - Ad

If you like fat yields, listen up, because we're holding five income stocks right now that are paying us more than 89% a year. These companies pay generous dividends and raise them almost like clockwork. Nothing else in my book comes close to these cash machines. But don't just take my word for it.

Business News Digest

AP Business Digest

Gavin Newsom Is Going To South Carolina Next Week To Remind Rural Voters There They Aren't Forgotten, Presidential Run In 2028 On The Cards?

Gavin Newsom, California Governor, to tour South Carolina next week, sparking rumors of 2028 presidential run. He aims to engage rural voters and build partnerships.

Gold Just Hit Another Record. This Junior Could Be Next.

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

Labor Market Woes, Gold's Rise, Trump's Fed Attack, Middle-Class Struggles And A Surprising Jobs Report: This Week In Economy

The U.S. economy faced mixed signals this week as private payrolls declined for the first time in two years, gold gained traction.

Alibaba Prices $1.5 Billion Via Zero-Coupon Bonds To Fund AI, Cloud Push

Alibaba announced $1.5B bond offering for AI and cloud expansion, exchangeable for shares of Alibaba Health. Expected to close July 9.

Copper's Spiking - And This Junior Has the Grades to Match

Copper's Spiking - And This Junior Has the Grades to Match - Ad

Cathie Wood's Ark Invest Continues To Offload Coinbase, Bets Big On SoFi Technologies

Cathie Wood-led Ark Invest made notable trades on Friday, including selling shares in Coinbase and Roblox.

A strike by air traffic controllers is disrupting travel to, from and over France

PARIS (AP) — About 40% of flights were canceled Friday at all Paris airports and tens of thousands of passengers were rearranging plans at the height of the summer travel season because of a strike by French seeking better working conditions.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Autonomous Vehicles Hit Their 'ChatGPT Moment' — Best Stocks To Watch Now

Autonomous vehicles are entering their ‘ChatGPT moment' as AI unlocks real-world deployment. Discover 28 top stocks in a $1.2 trillion market.

Goldman Just Launched Two New Bond ETFs; Here's Why Investors Should Pay Attention

Goldman Sachs Asset Management debuts two new actively managed fixed income ETFs in response to rising demand for active strategies in a volatile rate landscape.

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune - Ad

A high-grade copper-gold discovery in Quebec just delivered extremely high grade intercepts. Valuation? Just $31M. With copper breaking out, the timing here could be perfect. Get the symbol here.

Shooting Stars: Rocket Lab Breaks Records (And Stock Up 640% In Past Year), AST SpaceMobile Impresses Defense, Kuiper Grows

Here's a look at recent highlights, news catalysts and upcoming events in the space stock sector.

Trending Now