Ripple and BNY Expand Partnership to Support XRP, RLUSD and Tokenized Trade Finance

Highlights:

• BNY has added XRP and Ripple’s RLUSD stablecoin to its digital asset custody platform for institutions.
• Ripple and BNY plan to explore tokenized trade finance, helping businesses access financing against unpaid invoices.
• BNY also plans to let institutional clients mint and redeem RLUSD directly, but launch dates remain unconfirmed.

Ripple, a blockchain payments company, and BNY (Bank of New York Mellon), a major US banking firm, have expanded their partnership to offer more digital asset services to financial institutions. Under the agreement, BNY will provide custody services for XRP and Ripple’s RLUSD stablecoin. The companies also plan to explore blockchain-based trade finance, which could help businesses access funds faster.

The companies announced the expanded partnership in an October 27 press release. The agreement builds on their existing work with RLUSD reserves and Ripple’s institutional crypto services.

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

BNY Adds XRP and RLUSD to Its Digital Asset Custody Platform

BNY has added XRP and RLUSD to its Digital Asset Custody platform. Eligible institutional clients can use the service to hold, store and transfer both digital assets. The service gives financial institutions access to crypto custody through BNY’s existing systems. It also provides the security controls and oversight large financial firms need to manage customer assets.

BNY already works with Ripple as the primary custodian for assets backing RLUSD. The companies announced that arrangement in July 2025. Under the latest agreement, BNY is expanding its services beyond reserve custody.

The bank also plans to support more tokenized assets issued on the XRP Ledger (XRPL). In addition, Ripple and BNY want to allow institutional clients to mint and redeem RLUSD directly through BNY. These services are still under development, and the companies have not announced when all planned features will be available.

Ripple and BNY Plan Blockchain-Based Trade Finance Services

Another part of the agreement focuses on trade finance. Ripple and BNY want to explore how businesses can use the XRP Ledger to manage trade receivables and access financing. Trade receivables are payments that businesses expect to receive from customers. Companies sometimes need that money before an invoice is due, especially when they must pay suppliers or cover daily expenses.

The proposed system would turn those receivables into digital assets on the blockchain. It could help financial institutions manage them more easily and offer businesses another way to access working capital. Ripple and BNY are also exploring an initial supply chain finance project with C2FO, a working capital platform.

Separately, Ripple and C2FO announced plans on October 27 to use XRP Ledger and RLUSD for C2FO Instant Pay. The planned service would allow businesses to receive payments against approved invoices in seconds. However, the BNY trade finance project remains in its early stages. The companies have not confirmed a launch date.

Ripple Continues Expanding Its Institutional Crypto Business

Ripple said RLUSD has reached a market capitalization of about $2.5 billion. The company also reported that XRPL has processed more than 4.6 billion transactions since its launch, with settlement taking around three to five seconds.

The announcement follows Ripple’s October 26 confirmation that it received final US Office of the Comptroller of the Currency (OCC) approval to establish Ripple National Trust Bank. The trust bank has approval for reserve management and fiduciary digital asset custody, adding another regulated service to Ripple’s institutional operations.

LATEST: 🏦 The OCC has granted final approval for Ripple National Trust Bank, a federally supervised charter that will manage RLUSD's segregated reserves and offer fiduciary digital asset custody. pic.twitter.com/Of8byUQ7Fa

— CoinMarketCap (@CoinMarketCap) October 27, 2026

At the time of writing, XRP was trading at around $1.31, up 1.35% over the past 24 hours, according to CoinMarketCap.