BNY added XRP and the RLUSD stablecoin to its digital asset custody platform, after already providing custody for RLUSD reserves and maintaining a custody arrangement with Ripple Prime. The bank will enable its clients to mint and redeem RLUSD directly. Ripple and BNY are also exploring tokenized trade finance applications on the XRP Ledger, including the digital representation of trade receivables. Their first potential initiative would involve C2FO, a global working-capital platform, and focus on expanding investor access to approved receivables. The companies are also examining tokenized assets, investment products, payments, settlement and collateral workflows built on the XRP Ledger.
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