Ripple and Robinhood expanded their partnership to make the RLUSD stablecoin available to retail and institutional clients. Ripple also announced that BNY now supports custody of XRP and RLUSD through its Digital Asset Custody platform. BNY and Ripple plan to enable the bank’s clients to mint and redeem RLUSD directly while broadening support for tokenized assets issued on the XRP Ledger. Separately, C2FO’s Instant Pay service, which uses RLUSD for supplier payments on the XRP Ledger, is being tested, with a controlled launch and initial RLUSD transactions expected by the end of the year. Ripple also received final approval from the US Office of the Comptroller of the Currency to establish a national trust bank that will manage RLUSD reserves and provide digital asset custody, while issuance of the stablecoin will remain with Ripple’s New York-regulated subsidiary.
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