Ripple expands BNY custody deal, brings C2FO trade finance to XRP Ledger
BNY will support XRP and RLUSD custody as Ripple and C2FO test invoice financing that could settle approved supplier payments in seconds.
- On Tuesday, Ripple and C2FO announced a partnership to use the XRP Ledger and RLUSD stablecoin for invoice financing, aiming to accelerate payments for suppliers waiting 30, 60, or 90 days for settlement.
- Stablecoins are increasingly serving as essential financial infrastructure, moving beyond trading tools; Ripple President Monica Long noted, "Stablecoins have evolved from a crypto trading tool into a critical piece of financial infrastructure."
- Ripple expanded its partnership with Robinhood to incorporate RLUSD for institutional trade settlement and treasury operations through Ripple Prime and Bitstamp, enhancing capital management for the platform.
- BNY expanded its digital asset custody platform to support XRP and RLUSD, allowing eligible institutional clients to hold and transfer these assets while building on its role as primary reserve custodian for RLUSD.
- RLUSD's market capitalization has grown to more than $2.5 billion with over $1 billion issued on the XRP Ledger; however, the new financing arrangement remains subject to client requirements and waitlist interest.
26 Articles
26 Articles
BNY Adds XRP, RLUSD Custody and Plans Direct RLUSD Minting
BNY has expanded its partnership with Ripple to support institutional custody of XRP and the dollar-backed RLUSD stablecoin, as the companies explore tokenized trade finance and direct stablecoin issuance and redemption through the bank.Announced on October 27, the expanded collaboration adds both assets to BNY’s Digital Asset Custody platform, building on its existing role as the primary reserve custodian for RLUSD and its custody relationship …
Illustrative image Photo: PexelsRipple and Robinhood close partnership to use RLUSD in institutional and treasury liquidation
XRP Ledger Targets Trade Finance Through Ripple And C2FO Partnership
Ripple expanded its partnership with BNY on October 27, adding institutional custody support for XRP and RLUSD. A separate collaboration with C2FO aims to accelerate invoice financing through blockchain-based settlement. The proposed service targets supplier payment delays, although live transaction volumes and launch dates remain unconfirmed.
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