BNY to Custody XRP and RLUSD, and Bring Trade Finance to the XRP Ledger with C2FO

BNY, which was already the primary custodian of RLUSD reserves, now supports XRP and RLUSD on its digital asset custody platform. It plans to extend support to tokenized assets and investments on the XRP Ledger and to allow its clients to mint and redeem RLUSD directly through the bank.

The two companies will also work on tokenized trade finance. The first step is with C2FO, a working capital platform that is moving the financing and settlement of its Instant Pay service, settled in RLUSD, to the XRP Ledger so that suppliers get paid for approved invoices in seconds. BNY has $63.4 trillion in assets under custody or administration.

Ripple expands its strategic digital asset collaboration with BNY in custody and tokenized trade finance.

NEW YORK — October 27, 2026 — Ripple, a leading provider of blockchain solutions for traditional and digital finance, and BNY (NYSE: BNY), a global financial services company, today announced the 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. This collaboration brings together Ripple’s digital asset solutions and the XRP Ledger (XRPL), a public blockchain, with BNY’s scale, service model and digital capabilities.

Building on its role as primary reserve custodian for Ripple’s stablecoin, RLUSD, and its custody relationship with Ripple Prime, BNY now offers support for 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 resilience of its comprehensive service model, offering eligible clients a simple way to store, hold and transfer digital assets.

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

“The market infrastructure of the future will deliver connectivity across payments, liquidity, collateral and securities, powered by architectural bridges between large-scale traditional 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 greater institutional adoption.”

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

Ripple and BNY also plan 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 the management and distribution of those assets. As a first step toward this ambition, Ripple and BNY are exploring a supply chain finance initiative with C2FO, a global working capital platform, focused on expanding investor access to this asset class.

“We have spent years building a platform that gives businesses more insight into and control over their working capital. The next opportunity is to make the financial infrastructure supporting our marketplace as efficient and connected as the experience we have created for our clients,” said Ragui Selwanes, President and Chief Operating Officer for the Americas at C2FO . “ By working with Ripple and BNY and leveraging the 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 clients already trust.”

Purpose-built for institutional use, RLUSD has reached a market capitalization of approximately $2.5 billion and supports use cases in payments, trading and tokenized finance. The XRPL has processed more than 4.6 billion transactions since its launch, with a settlement time of three to five seconds. Its native capabilities for issuing, transferring and exchanging digital assets enable its use by institutions.

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

*All references to future product plans are subject to final approval by BNY and regulatory bodies.