TL;DR
BNY expanded its partnership with Ripple, adding XRP and the RLUSD stablecoin to its institutional custody platform.
The two companies are working to allow BNY clients to mint and redeem RLUSD directly through the bank, while also exploring tokenized trade finance applications.
An initiative to finance approved invoices through the XRP Ledger is under development, aiming to reduce the time suppliers need to access working capital.
BNY expanded its partnership with Ripple, adding XRP and the RLUSD stablecoin to its institutional custody platform , with the goal of offering clients new digital asset services.
The bank already served as the primary custodian of RLUSD’s reserves and maintained a custody relationship with Ripple Prime. The expanded partnership aims to allow institutional clients to mint and redeem RLUSD directly through BNY , although the companies have not yet announced when this feature will become available.
The partnership also includes developing financial applications on XRP Ledger (XRPL) , particularly for using tokenized assets in payments, financing transactions, and collateral management.
BNY and Ripple Explore Invoice Financing Through XRP Ledger
The companies announced a joint initiative with C2FO , a platform specializing in working capital financing, to explore blockchain applications in trade finance.
The project aims to allow suppliers to obtain financing against previously approved invoices without waiting for traditional bank transfer processing times.
Under the proposal, suppliers could receive funds within seconds , with participating financial institutions providing the necessary capital. The original invoice terms and payment due dates would remain unchanged.
The system would use XRP Ledger to process transactions and digitally represent the receivables associated with the invoices.
The initiative remains under development. BNY and Ripple have not announced a commercial launch date or specified when these services will become available to clients.
Ripple Expands RLUSD’s Use in Institutional Finance
Ripple also announced a partnership with Robinhood to integrate its infrastructure into stablecoin transactions, treasury management, and institutional trading .
RLUSD is already available on Robinhood Chain and Bitstamp by Robinhood , while its integration into the main Robinhood app is expected by the end of 2026.
Robinhood will use the stablecoin for institutional settlement on XRP Ledger and plans to integrate Ripple Treasury to manage cash, payments, and liquidity.
Since its launch in December 2024, RLUSD has reached a market capitalization of approximately $2.5 billion , with more than $1 billion issued on XRP Ledger.
According to Ripple , the network has processed more than 4.6 billion transactions since its inception, with settlement times of three to five seconds .
Ripple President Monica Long explained that the company aims to expand the applications of tokenized assets so they can be used directly for payments and as collateral across financial markets .
