• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ripple and BNY Mellon Partnership: Key Highlights and Market Impact

user avatar

by Giorgi Kostiuk

13 hours ago


Ripple has announced a strategic partnership with BNY Mellon aimed at accelerating RLUSD adoption in institutional settings.

Ripple and BNY Mellon Partnership

According to a press release from July 9, Ripple has selected the Bank of New York Mellon as the primary custodian for RLUSD reserves. The companies intend to accelerate digital asset adoption among financial institutions, bridging traditional finance and the crypto ecosystem. BNY Mellon will leverage its leading transaction banking services to support Ripple's operations.

Ripple CEO's Take on the Partnership

Ripple CEO Brad Garlinghouse shared his thoughts on the growing demand for stablecoins and the importance of banks like BNY Mellon entering the crypto space. He noted that regulatory clarity around stablecoins is contributing to their increasing interest among institutions.

The Role of RLUSD in Traditional Finance

RLUSD is a USD-denominated stablecoin operating on the XRP and Ethereum blockchains. It has achieved a market cap of $500 million and is actively used for transactions, including cross-border payments and global treasury management. In light of the recent stablecoins act, the demand for such assets continues to grow.

The partnership between Ripple and BNY Mellon highlights the growing intersection between the traditional financial sector and the crypto industry, which could significantly impact the future growth and development of stablecoins.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Bitcoin Sets New All-Time High Reaching $116,950

chest

Bitcoin surged to a new high of $116,950, highlighting positive sentiment across the cryptocurrency market.

user avatarGiorgi Kostiuk

Double Returns from TRON: REX Shares Proposes New ETF

chest

Financial firm REX Shares has filed for a new ETF that aims to increase investor returns from TRON.

user avatarGiorgi Kostiuk

Bitget Launches KCGI 2025 with $6 Million Prize Pool and Global Participation

chest

Cryptocurrency platform Bitget has announced the KCGI 2025 with a $6 million prize pool, expecting growth in trading activity.

user avatarGiorgi Kostiuk

Bitcoin and Ethereum: Price Trends and Market Outlook

chest

Bitcoin hit a new height of $112,438, with Ethereum close to $2,800 as market sentiment remains high.

user avatarGiorgi Kostiuk

Real Estate Tokenization in Japan: Aiming for Global Investment

chest

A Japanese company is launching a real estate tokenization initiative to attract international investors through blockchain technology.

user avatarGiorgi Kostiuk

Snoop Dogg Announces NFT Collection That Sold Out in 30 Minutes

chest

The NFT market shows signs of revival as Snoop Dogg’s NFT collection on Telegram quickly sells out.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.