BNY Adds XRP and RLUSD Custody, Explores XRPL Trade Finance

BNY has added XRP and the RLUSD stablecoin to its digital asset custody platform, Ripple said on October 27 at Swell 2026 in New York. Ripple and the bank are also exploring tokenized trade finance on the XRP Ledger (XRPL) together with working capital platform C2FO.

Details

According to Ripple's announcement, BNY is already the primary reserve custodian for RLUSD and a custodian for Ripple Prime. Clients can now also hold XRP and RLUSD themselves on BNY's platform. Ripple puts RLUSD's market cap at about $2.5 billion.

Separately, Ripple and C2FO announced that C2FO Instant Pay will run on XRPL with RLUSD settlement, letting suppliers get paid on approved invoices in seconds rather than the usual 30⁠–⁠90 days. The companies cite settlement in 3⁠–⁠5 seconds. BNY's role in that project is still exploratory: The Block reports the parties are looking at financing approved invoices and widening investor access to receivables. No launch timeline was given.

Ripple President Monica Long said: "With BNY, we're connecting the necessary components of financial infrastructure on the XRP Ledger."

What it means for the market

Custody of XRP and RLUSD at a major custodian bank makes it easier for institutional clients, who often require a regulated custodian, to hold the tokens. Trade finance on XRPL remains an exploratory idea rather than a live product.

For live prices see the daily brief and the XRP page.