US EditionXRP Spikes 3%: Is A Breakout Imminent?
UNITED STATES, JUL 9 – BNY Mellon will custody Ripple USD stablecoin reserves to improve regulatory compliance and institutional trust amid evolving U.S. cryptocurrency regulations, Ripple said.
- Last Wednesday, Ripple announced BNY Mellon as primary custodian for RLUSD reserves, enhancing regulatory compliance and institutional credibility.
- Amid the 'stablecoin summer' and rollback of Biden-era crypto policies, Ripple partners with BNY Mellon to enhance regulatory compliance and institutional credibility for RLUSD.
- CryptoSlate reports RLUSD's supply exceeded $501 million within seven months, supported by BNY Mellon's digital assets expertise since 2021.
- BNY Mellon’s custody of RLUSD boosts institutional trust and encourages stablecoin adoption among major companies like Uber, Apple, and Airbnb.
- Ripple is pursuing a U.S. national banking charter and Fed master account, which could enable RLUSD reserves to be held directly with the central bank, deepening its integration into the U.S. financial system.
21 Articles
21 Articles
XRP Spikes 3%: Is A Breakout Imminent?
XRP (CRYPTO: XRP) has been gaining momentum, with a partnership with BNY on stablecoin custody fueling speculation that a breakout for the token may be close. Cryptocurrency Ticker Price Market Cap 7-Day Trend XRP (CRYPTO: XRP) $2.37 $140.5 billion +4.9% Bitcoin (CRYPTO: BTC) $109,268.24 $2.17 trillion -0.3% Ethereum (CRYPTO: ETH) $2,660.94 $321.2 billion +3.1% Trader Notes: Crypto chart analyst Ali Martinez has identified a breakout p…
XRP Surges: Ripple Taps BNY Mellon as Primary Custodian for RLUSD Reserve
Bank of New York Mellon will serve as the primary custodian for the U.S. dollar reserves supporting Ripple’s stablecoin, RLUSD. The announcement was made by both companies on Wednesday.BNY Mellon created a digital asset division in 2021. The unit was formed to provide services related to cryptocurrencies, including bitcoin. The bank has been expanding its role in digital finance in recent years.Supporting Conversions and Reserve ManagementAs par…
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ZyCryptoMassive XRP Bump Incoming As RLUSD Could Be Ripple’s Biggest Play Yet in the Payments Game
Ripple is expanding its footprint in global payments , and this time, it’s through RLUSD, a U.S. dollar-pegged stablecoin designed to reshape cross-border settlements. The company has confirmed a new partnership with London-based payments firm OpenPayd. Their collaboration aims to integrate RLUSD in...
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