Ripple Expands Strategic Digital Assets Collaboration with BNY Across Custody and Tokenized Trade Finance
Key Highlights
- ➤BNY Digital Asset Custody now supports XRP and RLUSD
- ➤Ripple and BNY expand collaboration into tokenized trade finance
- ➤RLUSD market capitalization reaches approximately $2.5 billion
- ➤Ripple and BNY explore supply-chain finance initiative with C2FO
- ➤BNY intends to enable direct RLUSD minting and redemption for clients
Expert Statements
Monica Long, President of Ripple
“We’re moving past the initial issuance of assets onchain – now, it’s all about making these tokenized assets usable for payments and collateral across financial markets”
Monica Long, President of Ripple
“With BNY, we’re connecting the necessary components of financial infrastructure on the XRP Ledger so institutions can move from holding digital assets to using them within capital markets and trade finance seamlessly.”
Carolyn Weinberg, Chief Innovation and Market Transformation Officer at BNY
“Future market infrastructure will deliver connectivity across payments, liquidity, collateral and securities, driven by architected bridges between traditional scaled systems and always-on blockchain technology”
Carolyn Weinberg, Chief Innovation and Market Transformation Officer at BNY
“In collaboration with Ripple, we are working to shape a more continuous, efficient and resilient financial system, paving the way for broader institutional adoption.”
Ragui Selwanes, President & COO Americas at C2FO
“We’ve spent years building a platform that gives businesses more information and control over their working capital. The next opportunity is to make the financial infrastructure behind our marketplace as efficient and connected as the experience we’ve created for customers.”
Ragui Selwanes, President & COO Americas at C2FO
“Working with Ripple and BNY and leveraging XRPL, we are excited to explore how a new model for financing approved receivables has the potential to broaden access to capital while preserving the relationships and experience our customers already trust.”
Ripple Expands Strategic Digital Assets Collaboration with BNY Across Custody and Tokenized Trade Finance
Ripple, the leading provider of blockchain solutions across traditional and digital finance, and BNY (NYSE: BNY), a global financial services company, today announced an expansion of their strategic collaboration to broaden institutional digital asset custody capabilities and explore new institutional use cases for blockchain technology, including tokenized trade finance. The collaboration brings together Ripple’s digital asset solutions and the XRP Ledger (XRPL), a public blockchain, with BNY’s scale, servicing model and digital capabilities.
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