BNY has expanded its partnership with Ripple by adding support for XRP and the RLUSD stablecoin to its digital asset custody platform. Eligible institutional clients will be able to store, protect and transfer these assets using the bank’s infrastructure. BNY and Ripple will also explore the tokenization of traditional financial assets, including trade receivables, as well as new use cases in payments and collateral management. Ripple and C2FO also plan to bring C2FO Instant Pay financing and settlement to the XRP Ledger, using RLUSD for settlement and enabling suppliers to receive payment within seconds. In addition, BNY clients will be able to mint and redeem RLUSD directly through the bank, further strengthening the stablecoin’s institutional adoption.
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