Moody’s assigned RLUSD an A2 long-term deposit rating and its highest P-1 short-term rating for issuance on XRP Ledger and Ethereum. Ripple also received final approval from the Office of the Comptroller of the Currency to establish a national trust bank that will manage RLUSD reserves and provide institutional custody services, while Bank of New York Mellon remains the primary reserve custodian. RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s New York-regulated subsidiary, and the trust bank will hold segregated reserves, act as collateral trustee and provide fiduciary digital-asset custody. Institutional adoption of RLUSD could increase XRP’s utility through network fees, reserve requirements and cross-currency payments, but the stablecoin’s market capitalization could grow without proportional demand for XRP because settlement on XRP Ledger and Ethereum does not always require its use.
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