The Bank of New York Mellon Corporation (BNY) has added custody for XRP and Ripple USD (RLUSD), allowing eligible institutional clients to hold and transfer both assets as the bank and Ripple expand their collaboration. The joint announcement, dated Oct. 27, said the service is available through BNY’s Digital Asset Custody platform.
The new custody support builds on Ripple’s July 2025 selection of BNY as the primary custodian for RLUSD reserves. The joint announcement said BNY had $63.4 trillion in assets under custody and/or administration and $2.2 trillion in assets under management as of Sept. 30, 2026.
Other parts of the expanded relationship are still planned. BNY intends to broaden support for tokenized assets and investment products on the XRP Ledger (XRPL), and to work with Ripple so clients can mint and redeem RLUSD through the bank. The companies gave no launch timetable for those services.
A sterling share class from Aviva Investors offers an example of the product category: the fund kept its existing structure, while the XRP Ledger carries a corresponding record of holdings, as described in EconoTimes’ earlier coverage.
Ripple and BNY also intend to advance tokenized trade finance, subject to client requirements. They are exploring a supply-chain finance initiative with C2FO. The companies say blockchain records for trade-finance assets such as receivables could make them easier to administer and distribute, and potentially give more investors access.
Separately, Ripple and C2FO announced that financing and settlement activity supporting C2FO Instant Pay would move onto XRPL, with RLUSD used for settlement. Under the plan, capital providers would advance supplier payments while invoice terms and due dates stay in place. C2FO says payment cycles can run 30, 60 or 90 days after goods or services are delivered, and transfers through legacy bank systems can add days even when an invoice is paid early.
The companies did not provide a timetable for the planned tokenized services or trade-finance work.
