BNY Now Custodies XRP for Institutions, Plans Direct RLUSD Minting With Ripple

The bank that already holds reserves for Ripple’s stablecoin added XRP and RLUSD to its custody platform, while broader XRP Ledger plans and a C2FO trade finance effort remain at an early stage. BNY , the custody bank that already safeguards the reserves behind Ripple’s stablecoin, now holds XRP and RLUSD for institutional clients on its Digital Asset Custody platform, Ripple announced on Oct. 27. Eligible BNY clients can use the platform to store and move the two assets inside the bank’s existing servicing and controls framework, according to the release.