Ripple and BNY expand partnership on the XRP Ledger for trade finance and stablecoin custody
Bank and blockchain firm extend custody tie with trade finance tests
BNY and Ripple are broadening their collaboration, adding custody support for XRP and RLUSD, a dollar-backed stablecoin, while testing tokenized trade finance on the XRP Ledger.
BNY already holds RLUSD in reserve and keeps custody accounts for Ripple Prime. Under the new arrangement announced Tuesday, the two companies plan to let BNY clients create and redeem RLUSD through the bank. They also want to explore using the XRP Ledger for tokenized trade finance, according to a statement.
What Ripple says the next step is
Monica Long, Ripple's president, said the industry is moving past simply issuing assets on a blockchain. She described the next stage as making tokenized assets usable for payments and as collateral across financial markets.
How suppliers would benefit
BNY and Ripple teamed up with working capital provider C2FO to test tokenized trade finance aimed at supply chain receivables. The goal is to move corporate working capital onto public ledger infrastructure.
Suppliers could receive money within seconds against invoices that have already been approved, rather than waiting several days for bank transfers to clear. Participating capital providers would fund those payments, while existing invoice terms and due dates would stay the same, according to a separate statement.
Robinhood also partners with Ripple
Ripple announced a separate partnership with Robinhood covering stablecoins, treasury operations and institutional markets. RLUSD is already available on Robinhood Chain and on Bitstamp, which Robinhood owns. Availability inside the Robinhood app is expected later this year.
Ripple said Robinhood will use the stablecoin for institutional settlement on the XRP Ledger and integrate Ripple Treasury for cash management, payments and liquidity operations.
Scale of RLUSD and the XRP Ledger
RLUSD has reached about $2.5 billion in market value since launching in December 2024, with more than $1 billion issued on the XRP Ledger. Ripple said the ledger has processed over 4.6 billion transactions since launch and settles transactions in three to five seconds.
Nothing is ready yet
The BNY agreement and the C2FO project are still under development. Neither company has given a date for when the custody services or the trade finance applications will be available.
Why this matters
The expansion shows a traditional bank increasing the range of crypto assets it can hold and service for clients, while a newer use case moves trade finance onto a public blockchain with the aim of cutting how long suppliers wait for approved payments.
- BNY added custody support for XRP and RLUSD while exploring tokenized trade finance on the XRP Ledger.
- RLUSD can be minted and redeemed by BNY clients through the bank, the companies said.
- Suppliers could be paid in seconds against approved invoices through the C2FO test.
- RLUSD market value is about $2.5 billion, with over 4.6 billion XRP Ledger transactions since launch.
- No launch date has been set for the custody or trade finance features.
Source
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.