One of the Largest Financial Institutions Adds XRP

The relationship between Ripple and BNY just grew significantly. The two companies have announced an expansion of their strategic collaboration, targeting institutional digital asset custody and tokenized trade finance on the XRP Ledger.

BNY now supports XRP and RLUSD on its Digital Asset Custody platform. That adds to BNY’s existing role as primary reserve custodian for RLUSD and its custody relationship with Ripple Prime.

The platform gives eligible institutional clients a secure way to hold, safekeep, and transfer digital assets within BNY’s established governance and controls framework.

Trade finance is coming to the XRP Ledger!

Today, we’re expanding our collaboration with @BNYglobal across custody and tokenized trade finance, bringing BNY’s institutional scale together with $RLUSD, @XRP and the XRP Ledger.

→ https://t.co/0wOltZclRj pic.twitter.com/3LRULGEuqO

— Ripple (@Ripple) October 27, 2026

Custody Is Only the Beginning

Ripple President Monica Long described the shift in focus clearly. “We’re moving past the initial issuance of assets onchain,” she said. “Now, it’s all about making these tokenized assets usable for payments and collateral across financial markets.”

BNY also intends to let its clients mint and redeem RLUSD directly through the bank. The two companies plan to expand BNY’s support for tokenized assets and investment products issued on the XRPL as institutional use cases on the ledger develop.

Trade Finance Moves Onchain

The most significant development in the announcement is the push into tokenized trade finance. Ripple and BNY plan to use the XRP Ledger to digitally represent trade finance assets such as receivables. The goal is to broaden investor access and simplify how those assets are managed and distributed.

As a first step, the companies are exploring a supply chain finance initiative with C2FO, a global working capital platform. C2FO President and COO Americas Ragui Selwanes welcomed the collaboration. “Working with Ripple and BNY and leveraging XRPL, we are excited to explore how a new model for financing approved receivables has the potential to broaden access to capital,” he said.

The Infrastructure Behind the Move

RLUSD has grown to approximately $2.5 billion in market capitalization. The XRP Ledger has processed more than 4.6 billion transactions since launch, with settlement times of three to five seconds.

BNY Chief Innovation and Market Transformation Officer Carolyn Weinberg described what the partnership is building toward. “We are working to shape a more continuous, efficient and resilient financial system,” she said, “paving the way for broader institutional adoption.”

The initiative marks a concrete step toward institutional use of blockchain infrastructure across payments, settlement, and collateral management.