{"id":488723,"date":"2025-07-09T15:40:00","date_gmt":"2025-07-09T14:40:00","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=488723"},"modified":"2025-07-09T14:27:20","modified_gmt":"2025-07-09T13:27:20","slug":"ripple-appoints-bny-mellon-as-custodian-for-rlusd-reserves-as-supply-tops-500m","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/ripple-appoints-bny-mellon-as-custodian-for-rlusd-reserves-as-supply-tops-500m\/","title":{"rendered":"Ripple appoints BNY Mellon as custodian for RLUSD reserves as supply tops $500M"},"content":{"rendered":"

According to a July 9 announcement, Ripple<\/a>\u00a0has appointed BNY Mellon as the official reserve custodian for its enterprise-focused stablecoin,\u00a0<\/span>Ripple USD (RLUSD)<\/a>.<\/p>\n

According to a July 9 announcement<\/a>, BNY Mellon<\/a> was selected based on its extensive experience in digital asset infrastructure and its role as a trusted provider of transaction banking services in the US. The bank will now manage RLUSD's cash reserves and support Ripple's operational needs through integrated banking solutions.<\/p>\n

Jack McDonald, the Senior Vice President of Stablecoins at Ripple, described RLUSD as addressing a significant gap in enterprise-grade financial tools. He praised BNY Mellon's expertise and commitment to innovation, calling the bank a ‘forward-thinking partner' capable of bridging traditional and decentralized finance.<\/p>\n

Emily Portney, the Global Head of Asset Servicing at BNY, also echoed this sentiment, while adding that:<\/p>\n

“As primary custodian for RLUSD, we\u2019re proud to support the growth of digital assets by providing a differentiated platform, designed to meet the evolving needs of institutions in the digital assets ecosystem.”<\/p><\/blockquote>\n

This move follows Ripple's earlier partnership with Switzerland-based AMINA Bank<\/a>, which now offers custody and trading services for RLUSD in Europe. That integration brought the stablecoin into a regulated banking environment, expanding its footprint among institutional and private clients.<\/p>\n

RLUSD supply surpasses $500 million<\/h2>\n

The collaboration with major financial institutions appears to be fueling RLUSD's momentum.<\/p>\n

Data from CryptoSlate<\/em> shows that RLUSD's circulating supply has now exceeded $501 million, less than a year after its launch.<\/p>\n

Around $435 million is currently on the Ethereum<\/a> network, while $65 million resides on Ripple's XRP Ledger.<\/p>\n

\"Ripple
Ripple RLUSD Supply on Ethereum (Source: Token Terminal)<\/figcaption><\/figure>\n

This growth shows the stablecoin's increasing relevance, especially in regulated environments. RLUSD is pegged 1:1 to the US dollar and backed by a segregated reserve consisting of cash and cash equivalents.<\/p>\n

The New York Department of Financial Services approved it in December 2024,<\/a> while the Dubai Financial Services Authority<\/a> cleared it for use this year.<\/p>\n

Unlike many stablecoins built for retail usage, RLUSD is designed for enterprise-level cross-border transactions, offering faster settlement, lower costs, and improved efficiency.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to a July 9 announcement, Ripple\u00a0has appointed BNY Mellon as the official reserve custodian for its enterprise-focused stablecoin,\u00a0Ripple USD (RLUSD). According to a July 9 announcement, BNY Mellon was selected based on its extensive experience in digital asset infrastructure and its role as a trusted provider of transaction banking services in the US. The […]<\/p>\n","protected":false},"author":720,"featured_media":488741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,76747,32631],"tags":[76698,74979,79559,79231,78137],"post_folder":[],"acf":[],"yoast_head":"\nRipple appoints BNY Mellon as custodian for RLUSD reserves as supply tops $500M<\/title>\n<meta name=\"description\" content=\"Ripple strengthens its stablecoin initiative with an experienced custodian in digital asset services by hiring BNY Mellon.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/ripple-appoints-bny-mellon-as-custodian-for-rlusd-reserves-as-supply-tops-500m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple appoints BNY Mellon as custodian for RLUSD reserves as supply tops $500M\" \/>\n<meta property=\"og:description\" content=\"Ripple strengthens its stablecoin initiative with an experienced custodian in digital asset services by hiring BNY Mellon.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/ripple-appoints-bny-mellon-as-custodian-for-rlusd-reserves-as-supply-tops-500m\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-09T14:40:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-09T13:27:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/07\/bnyMellon-ripple.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/ripple-appoints-bny-mellon-as-custodian-for-rlusd-reserves-as-supply-tops-500m\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/ripple-appoints-bny-mellon-as-custodian-for-rlusd-reserves-as-supply-tops-500m\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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