BNY Adds XRP and RLUSD to Digital Asset Custody in Expanded Ripple Deal
By Crypto Wire
October 27, 2026
Ripple and BNY said Tuesday they are expanding their strategic collaboration so BNY’s Digital Asset Custody platform now supports XRP, the native asset of the XRP Ledger, and Ripple’s dollar stablecoin RLUSD. The October 27 company release builds on BNY’s existing role as primary reserve custodian for RLUSD and its separate custody relationship with Ripple Prime. Eligible institutional clients can safekeep, hold, and transfer those assets inside BNY’s broader servicing model rather than only parking the cash and securities that back the stablecoin. Attribute the scope and timing to Ripple’s press desk; this Policy chapter does not invent a separate BNY Form 8-K beyond the joint announcement.
In plain English, the custody add is the live fact and the rest is still a plan. BNY intends to work with Ripple so bank clients can mint and redeem RLUSD directly through BNY, and to broaden support for tokenized assets and investment products issued on XRPL as institutional use cases develop. The release footnotes that intended future product plans remain subject to final BNY and regulatory approvals — collectors should not read a Tuesday headline as a live retail mint button. Ripple President Monica Long framed the push as moving past “initial issuance of assets onchain” toward making tokenized assets usable for payments and collateral. BNY Chief Innovation and Market Transformation Officer Carolyn Weinberg talked about bridges between traditional scaled systems and always-on blockchain rails. Treat both quotes as attributed company language.
Keep this chapter separate from Monday night’s Ripple National Trust Bank final OCC approval wire. That Settlement/Policy print was about a federally supervised trust bank managing RLUSD segregated reserves, acting as collateral trustee, and offering fiduciary digital-asset custody once RNTB opens, with issuance still at NYDFS-regulated Standard Custody & Trust Company. Today’s primary is commercial bank-platform custody for XRP and RLUSD tokens themselves at BNY, plus an exploratory trade-finance track — not a second charter headline. BNY still appears in both stories as reserve custodian; only today’s release adds client-facing Digital Asset Custody for the tokens and the mint/redeem intention.
The second leg is exploratory tokenized trade finance on XRPL. Ripple and BNY say they intend to advance that track subject to client requirements, digitally representing assets such as receivables so investors might access them more easily. As a first step they are exploring a supply-chain finance initiative with C2FO, a working-capital platform, aimed at expanding investor access to approved receivables. C2FO President and COO Americas Ragui Selwanes described modernizing financing for approved receivables while preserving existing customer relationships. Neither side published a timeline, deal size, or named pilot clients in the release — useful policy color, not a settled product launch.
Scale figures in the release are company-attributed. Ripple says RLUSD sits near a $2.5 billion market capitalization and that XRPL has processed more than 4.6 billion transactions since launch with settlement in about three to five seconds. Desk wraps citing the same package put BNY at about $63.4 trillion in assets under custody and/or administration and $2.2 trillion under management as of September 30, 2026. This desk does not independently verify those AUM or ledger totals; they matter as the institutional framing both firms chose for the custody expansion.
For NFT and crypto desks that clear bids in dollar stables or watch XRP-adjacent rails, the practical question is whether eligible institutions can now park XRP and RLUSD at BNY under the bank’s custody controls, and whether a dated mint/redeem path for RLUSD through BNY actually opens after approvals. Watch for a BNY product page that lists XRP and RLUSD as live Digital Asset Custody assets, any dated notice that client mint/redeem is open (not merely intended), and whether C2FO or Ripple publish a named pilot for XRPL receivables. Until those operational receipts land, treat Tuesday’s print as an institutional custody milestone with forward-looking mint and trade-finance language still gated.
What changes for bids: Institutional counterparties that already settle or collateralize in RLUSD gain a named path to hold XRP and RLUSD inside BNY Digital Asset Custody, which can matter for how large desks source stable cash legs and XRP inventory — but retail NFT bid books do not flip on this headline alone until mint/redeem through BNY is live and attested, not just intended under the release footnote.
Bottom line: BNY now supports XRP and RLUSD on its Digital Asset Custody platform under an expanded Ripple collaboration, while direct client mint/redeem of RLUSD and XRPL tokenized trade finance with C2FO remain intended next steps subject to approvals.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
