XRP Boosted 4% By Ripple's Stablecoin Partnership With BNY

Murtuza J Merchant

July 09, 2025

Ripple (CRYPTO: XRP) has announced that the Bank of New York Mellon (NYSE:BKAG) will serve as the primary custodian for reserves backing its U.S. dollar-pegged stablecoin RLUSD.

This move marks a significant step toward boosting institutional trust in the stablecoin sector, as well as ensuring greater regulatory alignment for Ripple, which issued RLUSD in December 2024.

BNY Mellon, the oldest bank in the United States and a key service provider to institutional clients, will manage the underlying reserve assets and facilitate the liquidity processes behind RLUSD redemptions and conversions, CNBC reported on Wednesday.

The partnership comes at a time of accelerating interest in stablecoins among legacy financial institutions and large corporations.

“BNY is committed to delivering differentiated, end-to-end solutions designed to meet the needs of institutions across the digital assets ecosystem,” said Emily Portney, the bank's global head of asset servicing.

Also Read: Sequans Secures $384M To Launch Bitcoin-Focused Treasury Strategy

She added that the firm is proud to support the infrastructure behind RLUSD and Ripple’s broader efforts in shaping the future of finance.

This collaboration is part of a broader industry shift often dubbed "stablecoin summer," as firms like Amazon, Walmart, Uber, and Apple are reportedly exploring the use or issuance of their own stablecoins.

Regulatory momentum is also building, with the U.S. Congress making headway on stablecoin legislation and the Trump administration rolling back prior crypto restrictions.

Ripple is currently seeking a national banking charter and a Federal Reserve master account, which would allow it to manage reserves directly with the U.S. central bank.

Known for developing cross-border payment infrastructure, Ripple has largely operated internationally and primarily serves banks and fintechs.

BNY Mellon entered the crypto space in 2021, forming a dedicated digital assets division to offer custody and asset servicing solutions for cryptocurrencies like Bitcoin.

Read Next:

Trump Media’s New ‘Crypto Blue Chip ETF’ Filing Comes With A Twist

Image: Shutterstock

Recommended

Bitcoin Just Humbled Jeff Bezos - Ad

The Tesla Shock Nobody Sees Coming - Ad

$100 Trillion "AI Metal" Found in American Ghost Town - Ad

Jamie Dimon, recently shared a personal anecdote about the day he was fired from Citigroup and the impact it had on his family and career.

Trump Says 5 Jets Downed During India-Pakistan Conflict: '...Shot Out Of The Air'

President Donald Trump during a dinner with Republican lawmakers stated, that up to 5 jets were shot down during the India-Pakistan conflict.

What's inside Elon's building in Memphis will shock you

What's inside Elon's building in Memphis will shock you - Ad

Inside Elon Musk's Memphis site lies a supercomputer built to power the world's first superhuman AI. It could make Elon a trillionaire - and new millionaires, too. With just $500, you could get in before the July 1st funding window closes.

After years of tough rules on liquids and footwear, US air travel may be on the cusp of a new era

NEW YORK (AP) — When limits on liquids were introduced at TSA checkpoints across the country in 2006, bins overflowed with bottled water, toothpaste, shaving cream and so much more. Nearly two decades later, travelers are much more accustomed to the “3-1-1” regulations" governing the size of the liquids they're flying with, but scenes of passengers guzzling a beverage before putting their bags through the screening machines are still common.

Bitcoin Could Explode to $136,000 if This Happens, Says Analytics Firm

In a recent prediction by analytics platform Glassnode, Bitcoin‘s (CRYPTO: BTC) value could potentially surge by roughly 15%, reaching a staggering $136,000, if current demand continues. However, there is a possible hitch to this prediction.

How to Turn the Gold Surge Into Monthly Dividends

How to Turn the Gold Surge Into Monthly Dividends - Ad

Gold is one of 2025's top assets - up 26% and hitting 26 record highs in six months. While others chase the rally, savvy investors are using a $15 fund to collect up to $1,152/month. No gold bars, no mining stocks - just steady monthly income.

Barbara Corcoran, Who Sold Her Real Estate Empire For $66 Million Decades Ago, Says This Is The 'Most Under-Utilized' Tool In The Workplace

Real estate millionaire Barbara Corcoran built a $20 billion brokerage by making work fun with picnics, rewards, and perks, not strict rules.

What to Stream: Reneé Rapp, 'The Phoenician Scheme,' Elvis rarities, Anthony Mackie and Jason Momoa

Benicio Del Toro starring in Wes Anderson’s “The Phoenician Scheme”and Reneé Rapp's second studio album are some of the new television, films, music and games near you.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

1.4M of the nation's poorest renters risk losing their homes with Trump's proposed HUD time limit

WOODINVILLE, Wash. (AP) — Havalah Hopkins rarely says no to the chain restaurant catering gigs that send her out to Seattle-area events — from church potlucks to office lunches and graduation parties.

Why Is Donald Trump Ignoring Elon Musk's Call For 'Phase 2' Of The Epstein Files?

Musk's post questioning Trump's unfulfilled promise of Epstein-related disclosures reignites tensions over transparency in politics and tech.

What Happens If Gold Hits $5,000?

What Happens If Gold Hits $5,000? - Ad

Gold just hit $3,361-and $5,000 could be next. With the dollar weakening and central banks hoarding gold, now's the time to act. A little-known $15 fund tied to gold is paying up to 64% annually, with monthly payouts. Don't just watch gold rise-get paid from it.

At 14, Jamie Dimon Owned His First Stock, Watched A 45% Market Crash Only To Learn This Investment Lesson: 'History Does Rhyme'

Jamie Dimon, the CEO of JPMorgan Chase & Co., revealed the pivotal investment lesson he learned as a teenager.

What's in the Republican bill cutting $9 billion from public broadcasting and foreign aid

WASHINGTON (AP) — The Republican-led Congress is testing the popularity of spending cuts this week by aiming to pass President Donald Trump’s request to in public broadcasting and foreign aid spending.

The "Trade War" Document No One's Showing You

The "Trade War" Document No One's Showing You - Ad

Trump's about to prove everybody wrong. He's been ridiculed for his moves in the trade war... But everything is about to make perfect sense the moment people see Trump's "New Golden Age" tech. Because this little-known technology could ignite a $12 trillion manufacturing revolution... And early investors could see stratospheric gains.

Bitcoin's 4-Year Cycle Is Dead, Researcher Says: Here's Why It Matters For XRP

The crypto market has changed, and experts say relying on the traditional 4-year halving cycle could leave investors poorly positioned in

ASML Stock Plunges Nearly 8% In Wednesday Pre-Market: What's Going On?

Shares of Dutch semiconductor firm, ASML Holding NV (NASDAQ: ASML), has declined 7.46% during Wednesday pre-market trading, after the company expressed concerns over its 2026 growth prospects.

The Energy Stock Trump Once Called "A Big Mistake" to Mess With

The Energy Stock Trump Once Called "A Big Mistake" to Mess With - Ad

When a U.S. ally tried to tax ONE American energy company... Trump didn't hesitate to tell them "you're making a big mistake." Now this same company is generating over $3 billion in operating income... And partnering with the hottest AI stock on Wall Street. Out of 23,281 publicly traded stocks, this is the ONLY one that meets all the "unicorn" criteria.

Trump-Backed DOJ Motion Seeks Release Of Jeffrey Epstein, Maxwell Grand Jury Transcripts

DOJ moves to unseal grand jury testimony related to Jeffrey Epstein and Ghislaine Maxwell following criticism over handling of documents.

Ethereum, XRP, SOL Surge After GENIUS Act: What's Driving The Altcoin Rally?

The altcoin rally may only be getting started and follows the signing of the GENIUS Act, the most significant U.S. crypto legislation to date, ushering in structural clarity for digital assets.

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks - Ad

Futurist Eric Fry say Amazon, Tesla and Nvidia are all on the verge of major disruption. To help protect anyone with money invested in them, he's sharing three exciting stocks to replace them with. He gives away the names and tickers completely free in his brand-new "Sell This, Buy That" broadcast.

Bitcoin Consolidation Means Market Is 'Relatively Healthy', Ethereum, XRP, SOL Will Continue To Do Well, Analyst Says

Bitcoin (CRYPTO: BTC) consolidates as Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) show strength, leading market commentators to predict th

Opendoor, Verizon, Gamestop, Alphabet And Trump Media: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks experienced a positive trading session, with the Nasdaq climbing over 78 points or nearly 0.4% to 20,974.17. The Dow Jones Industrial Average was flat, falling 0.04% to 44,323.07, while the S&P 500 rose by 0.1% to 6,305.60.

Bitcoin Just Humbled Jeff Bezos

Bitcoin Just Humbled Jeff Bezos - Ad

Bitcoin just passed Amazon in market cap - yet most investors are making one big mistake: just buying and holding. Larry Benedict's "Bitcoin Skimming" method could deliver 6x, 9x, even 22x the gains. Don't miss out.

Jamie Dimon Reveals A Coffee Table Chat With Jeff Bezos In 1999 That Almost Made Him 'Never Wear A Suit Again…Live On A Houseboat'

JPMorgan Chase CEO Jamie Dimon almost left Wall Street for Amazon in 1999 after a chat with Jeff Bezos, but ultimately stayed and became a successful investor.

Trump's AI plan calls for massive data centers. Here's how it may affect energy in the U.S.

President Donald Trump’s across the U.S. could speed up a building boom that was already .

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Charles Schwab To Launch Bitcoin, Ethereum Trading Services

Charles Schwab (NYSE:SCHW), one of the largest brokerage firms in the United States, has confirmed plans to launch Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO:

Elizabeth Warren Says GOP Chose Trump Over American People, Slams 'Big Beautiful Bill' For Potentially Ushering Health Care Cuts, Price Hikes

Sen. Elizabeth Warren (D-Mass.) and former Treasury Secretary Lawrence Summers are voicing their concerns on the provisions of the recently passed "One Big, Beautiful Bill," warning of significant consequences for working American families.

$100 Trillion "AI Metal" Found in American Ghost Town

$100 Trillion "AI Metal" Found in American Ghost Town - Ad

Nvidia, AMD, Intel, Taiwan Semiconductor Manufacturing, Google, Microsoft, Apple, Tesla, Oracle, Palantir, IBM... They all need this little-known company's product. And this company has a virtual monopoly in the U.S. That means this company that's located in an American ghost town -- with only 30 people -- could be the key to the $100 trillion AI boom.

Nvidia's CEO Hits Beijing Like A Rockstar, Stirs Jensen-Mania In China

Nvidia CEO Jensen Huang receives a rockstar reception in Beijing during his most recent visit last week.

Trump's 'Happy Crypto Week' Gets Off To Rocky Start As House Suspends Votes On Key Bills

The House of Representatives called off Tuesday’s votes on pivotal cryptocurrency bills, citing a procedural failure.

What's inside Elon's building in Memphis will shock you

What's inside Elon's building in Memphis will shock you - Ad

There are many illegal marijuana farms, but federal agents targeted California's biggest legal one

LOS ANGELES (AP) — There are thousands of illegal marijuana farms around the country.

Elizabeth Warren Sounds Alarm on Tariffs: 'The Impact of Six Months of Donald Trump Will Be Felt for Two Generations'

Sen. Elizabeth Warren has voiced concern over the long-term impact of President Trump's tariffs.

How to Turn the Gold Surge Into Monthly Dividends

How to Turn the Gold Surge Into Monthly Dividends - Ad

$500 Billion Stumble: SoftBank–OpenAI's Massive AI Vision Faces Setbacks

Stargate has run into major delays and now plans to build a much smaller facility by the end of 2025.

Stocks Slip As Netflix Fails To Impress, Bitcoin Eyes Negative Week: What's Moving Markets Friday?

It’s a cautious end to the week on Wall Street, as earnings from Netflix Inc. (NASDAQ:NFLX) failed to impress investors.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Settlement reached in investors’ lawsuit against Meta CEO Mark Zuckerberg and other company leaders

WILMINGTON, Del. (AP) — A settlement was announced Thursday in court in a against Meta CEO Mark Zuckerberg and current and former company leaders over claims stemming from the privacy scandal involving the Cambridge Analytica political consulting firm.

Trending Now