Ripple Expands Strategic Digital Assets Collaboration with BNY Across Custody and Tokenized Trade Finance

Direct RLUSD creation and redemption through BNY is planned, while a supply chain finance initiative with C2FO remains exploratory.

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10/27/2026 - 08:00 AM EDT

NEW YORK--(BUSINESS WIRE)-- Ripple, the leading provider of blockchain solutions across traditional and digital finance, and BNY (NYSE: BNY), a global financial services company, today announced an expansion of their strategic collaboration to broaden institutional digital asset custody capabilities and explore new institutional use cases for blockchain technology, including tokenized trade finance. The collaboration brings together Ripple’s digital asset solutions and the XRP Ledger (XRPL), a public blockchain, with BNY’s scale, servicing model and digital capabilities.

Building on BNY’s role as primary reserve custodian for Ripple’s stablecoin, RLUSD, and its custody relationship with Ripple Prime, BNY now supports XRP, the native digital asset of the XRP Ledger, and RLUSD on its Digital Asset Custody platform. BNY’s platform is designed to provide institutional clients with secure digital asset custody within the governance, controls and resiliency of its broader servicing model, giving eligible clients a seamless way to safekeep, hold and transfer digital assets.

“We’re moving past the initial issuance of assets onchain – now, it’s all about making these tokenized assets usable for payments and collateral across financial markets,” said Monica Long, President of Ripple. “With BNY, we’re connecting the necessary components of financial infrastructure on the XRP Ledger so institutions can move from holding digital assets to using them within capital markets and trade finance seamlessly.”

“Future market infrastructure will deliver connectivity across payments, liquidity, collateral and securities, driven by architected bridges between traditional scaled systems and always-on blockchain technology,” said Carolyn Weinberg, Chief Innovation and Market Transformation Officer at BNY. “In collaboration with Ripple, we are working to shape a more continuous, efficient and resilient financial system, paving the way for broader institutional adoption.”

BNY intends to broaden its support for tokenized assets and investment products issued on the XRPL as institutional use cases on the ledger continue to develop and work with Ripple to enable BNY clients to mint and redeem RLUSD directly through BNY.* Both initiatives aim to support more efficient payments, settlement and collateral workflows over time.

Ripple and BNY also intend to advance tokenized trade finance on the XRPL, subject to client requirements. Tokenized trade finance uses blockchain technology to digitally represent existing trade finance assets, such as receivables, with the potential to broaden investor access and simplify how those assets are managed and distributed. As a first step toward this ambition, Ripple and BNY are exploring a supply chain finance initiative with C2FO, a global platform for working capital, focused on expanding investor access to the asset class.

“We’ve spent years building a platform that gives businesses more information and control over their working capital. The next opportunity is to make the financial infrastructure behind our marketplace as efficient and connected as the experience we’ve created for customers,” said Ragui Selwanes, President & COO Americas at C2FO. “Working with Ripple and BNY and leveraging XRPL, we are excited to explore how a new model for financing approved receivables has the potential to broaden access to capital while preserving the relationships and experience our customers already trust.”

Purpose-built for institutional use, RLUSD has grown to approximately $2.5 billion in market capitalization and supports use cases across payments, trading and tokenized finance. XRPL has processed more than 4.6 billion transactions since launch, with transactions settling in approximately three to five seconds. Its native capabilities for issuing, transferring and exchanging digital assets support institutional use cases.

To learn more about BNY’s Digital Assets capabilities, visit here. To learn more about Ripple, visit here, and the XRP Ledger, visit here.

About Ripple

Founded in 2012, Ripple is the leading provider of blockchain solutions rewiring the global financial system. With over 85 licenses, Ripple provides a single trusted entry point for enterprises with payments, custody, prime brokerage and treasury management solutions. Ripple’s stablecoin, RLUSD, and the digital asset XRP underpin these capabilities, enabling Ripple and its customers to bridge the worlds of traditional and digital finance.

About BNY

BNY is a global financial services platforms company at the heart of the world's capital markets. For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today BNY serves over 90% of Fortune 100 companies and nearly all the top 100 banks globally. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals. As of September 30, 2026, BNY oversees $63.4 trillion in assets under custody and/or administration and $2.2 trillion in assets under management.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BNY). Headquartered in New York City, BNY has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.