Ripple expands its collaboration with BNY to custody and tokenized trade finance
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AT A GLANCE
BNY has supported XRP and RLUSD custody, and is exploring tokenized trade finance based on C2FO XRPL
Article
BNY Mellon supports XRP and RLUSD custody, exploring tokenized trade finance with Ripple
PANews October 27 reported that, according to an official Ripple announcement, BNY Mellon (BNY) has supported XRP and USD stablecoin RLUSD custody on its digital asset custody platform, enabling eligible institutional clients to safeguard, hold, and transfer the relevant assets through the platform. Building on their existing RLUSD reserve custody and Ripple Prime custody cooperation, the two parties are further expanding their digital asset collaboration.BNY plans to expand support for tokenized assets and investment products on XRP Ledger（XRPL), and to work with Ripple so that clients may in the future directly mint and redeem BNY. In addition, the two parties are working with the working capital platform RLUSD to explore supply chain financing solutions based on C2FO to tokenize trade finance assets such as accounts receivable, thereby expanding channels for investor participation.
PANews, citing an official Ripple announcement, reported that BNY Mellon (BNY) has supported XRP and USD stablecoin RLUSD。
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Eligible institutional clients can safeguard, hold, and transfer XRP and RLUSD。
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BNY BNY Mellon is expanding its digital asset collaboration with Ripple based on its existing RLUSD reserve custody and Ripple Prime custody cooperation.
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BNY It XRP Ledger（XRPL plans to expand support for tokenized assets and investment products on
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BNY BNY Mellon plans to work with Ripple so that clients may in the future directly mint and redeem through BNY RLUSD。
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BNY BNY Mellon and Ripple are working with C2FO to explore supply chain financing solutions based on XRPL with the aim of tokenizing trade finance assets such as accounts receivable.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
In simple terms,BNY platform can now safeguard and transfer XRP and RLUSD。BNY BNY Mellon and Ripple also plan to increase support for XRPL tokenized assets and explore enabling clients to use BNY to mint or redeem RLUSD. The three parties are also researching the conversion of trade finance assets such as accounts receivable into on-chain tokens.
Why it matters to readers
This could make it more convenient for institutional clients to access XRP、RLUSD and XRPL tokenized assets on; it could also expand investor participation channels for trade finance assets. However, the direct minting and redemption and supply chain financing solutions mentioned in the original text remain plans or exploratory initiatives.
Beginners can understand this as traditional financial institutions increasing their digital asset custody and tokenization services; this is infrastructure and partnership progress and does not mean that the prices of the relevant assets will necessarily rise.
Risks and unknowns
The current evidence is PANews' account of an official Ripple announcement; the original announcement was not provided for direct verification.
BNY Direct minting and redemption RLUSD remain future arrangements, and whether and when they will be implemented has not been specified.
A supply chain financing solution based on XRPL is still being explored; whether it will enter a pilot or commercial implementation is unknown.
Related Developments
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The original text does not specify the geographical coverage, eligibility requirements, number of clients, or usage scale of the custody services.
The original text does not specify XRPL the specific launch timing or scope of support for tokenized assets and investment products.
Related concepts
Digital asset custody
This term is not in the glossary yet. Browse related concepts in the glossary.
