BNY now supports the custody of XRP and RLUSD on its digital asset custody platform. The bank was already the primary reserve custodian for RLUSD and has a separate custody relationship with Ripple Prime. BNY and Ripple plan to explore direct minting and redemption of RLUSD for BNY clients, subject to final bank and regulatory approvals. They are also examining tokenized receivables and a supply-chain finance initiative with C2FO, but neither service is presented as already being widely used.
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