{"id":35924,"date":"2025-07-09T11:46:57","date_gmt":"2025-07-09T11:46:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35924"},"modified":"2025-07-09T11:46:57","modified_gmt":"2025-07-09T11:46:57","slug":"ripple-taps-the-oldest-us-bank-to-custody-rlusd","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35924","title":{"rendered":"Ripple Taps The Oldest US Bank to Custody RLUSD"},"content":{"rendered":"<div>\n<p>The Bank of New York Mellon Corporation (BNY Mellon) continues to serve as a global partner for different cryptocurrency-related initiatives, and the latest involves Ripple and its recently launched stablecoin.<\/p>\n<p>According to a <a href=\"https:\/\/ripple.com\/ripple-press\/ripple-selects-bny-to-custody-ripple-usd-reserves\/\" data-wpel-link=\"external\" target=\"_blank\">press release<\/a> by the company, the oldest bank in the US will serve as a custodian for RLUSD.<\/p>\n<p>The statement reads that both parties are \u201cjointly committed to paving the way for digital asset adoption at institutional scale, and together, are bridging the gap between traditional finance and crypto.\u201d<\/p>\n<p>RLUSD saw the light of day at the end of last year when the New York Department of Financial Services (NYDFS) gave the green light. It\u2019s now one of the few global stablecoins issued under the agency\u2019s Trust Company Charter.<\/p>\n<p>It is pegged to the US dollar at a 1:1 ratio, and it is backed by \u201chigh-quality liquid assets,\u201d the company stated. Unlike other stablecoins, RLUSD is not focused on retail engagement. Instead, it has been \u201cpurpose-built for enterprise utility, particularly in improving the speed, cost, and efficiency of cross-border payments.\u201d<\/p>\n<blockquote>\n<p>\u201cAs primary custodian for RLUSD, we\u2019re proud to support the growth of digital assets by providing a differentiated platform, designed to meet the evolving needs of institutions in the digital assets ecosystem,\u201d commented Emily Portney, Global Head of Asset Servicing at BNY.<\/p>\n<\/blockquote>\n<p>In addition to the collaboration for RLUSD custody, Ripple will also utilize BNY\u2019s transaction banking services to \u201cunderpin its operations and continue delivering seamless solutions for its customers.\u201d<\/p>\n<p>BNY was one of the first US banks to dip its toes in the cryptocurrency market years ago, well before the country\u2019s political and regulatory landscape became as favorable as it is now. Since the early COVID days, the institution has launched several <a href=\"https:\/\/cryptopotato.com\/bny-mellon-regrets-not-owning-stocks-of-companies-investing-in-bitcoin\/\" data-wpel-link=\"internal\">BTC<\/a> and crypto-related products and provides custody to certain digital asset firms, such as <a href=\"https:\/\/cryptopotato.com\/bny-mellon-to-assist-grayscale-in-converting-the-bitcoin-trust-into-a-btc-etf\/\" data-wpel-link=\"internal\">Grayscale<\/a>.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/ripple-taps-the-oldest-us-bank-to-custody-rlusd\/\" rel=\"nofollow\">Ripple Taps The Oldest US Bank to Custody RLUSD<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of New York Mellon Corporation (BNY Mellon) continues to serve as a global partner for different cryptocurrency-related initiatives, and the latest involves Ripple and its recently launched stablecoin. According to a press release by the company, the oldest bank in the US will serve as a custodian for RLUSD. The statement reads that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35924","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35924"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35924\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}