New York Mellon Bank will provide dollar reserve custody services for Ripple's stablecoin RLUSD.

By: theblockbeats.news|2025/07/09 21:16:55

0

Share

copy

BlockBeats News, July 9th, according to The Block, Ripple announced on Wednesday that it has selected BNY Mellon to custody the U.S. dollar cash and U.S. Treasury bond reserves for its stablecoin RLUSD, with RLUSD's circulation surpassing $500 million.

As one of the largest custodian banks in the United States with assets under management of approximately $52 trillion, BNY Mellon will securely custody the reserve assets for RLUSD and assist in liquidity management. This move aims to ensure RLUSD holders can redeem dollars on a 1:1 basis, with the redemption mechanism following regulatory standards similar to traditional money market funds.

BNY Mellon established a dedicated digital asset unit in 2021 and officially began offering services to institutional-grade crypto clients in 2022.

-- Price

You may also like

AI Starts to Devour the Manufacturing Industry | Rewire News Morning Edition

AI Starts to Devour the Manufacturing Industry | Rewire News Morning Edition

When Bezos starts using AI to buy factories instead of building data centers, it shows that he believes the next wave of AI's value is not inside the box.

When Scaling Meets Speed, Ethereum Foundation Introduces "Hardness" to Safeguard the Base Layer

When Scaling Meets Speed, Ethereum Foundation Introduces "Hardness" to Safeguard the Base Layer

Hardness is a protocol-level commitment to Ethereum core properties, including censorship resistance, privacy, security, and permissionlessness.

Google, Circle, Stripe Flock Together to Let AI Spend Money: Payment Giants' Joys and Worries in 2026 Q1

Google, Circle, Stripe Flock Together to Let AI Spend Money: Payment Giants' Joys and Worries in 2026 Q1

The real enemy is no longer each other, but zero cost itself

$100 Billion Factory Purchase: Bezos and Middle Eastern Capital Shift AI Money from Cloud to Shop Floor

$100 Billion Factory Purchase: Bezos and Middle Eastern Capital Shift AI Money from Cloud to Shop Floor

Bezos doesn't invest in a new model; he invests in a supply chain.

Xiaomi and MiniMax both unleash their ultimate moves, signaling the start of the Agent Pricing War.

Xiaomi and MiniMax both unleash their ultimate moves, signaling the start of the Agent Pricing War.

No brand, no marketing, let developers vote with their feet in 8 days

Predicting markets has taken the spotlight, but the Perp DEX has been quietly waging war on traditional exchanges.

Predicting markets has taken the spotlight, but the Perp DEX has been quietly waging war on traditional exchanges.

During a weekend of relentless volatility, while traditional financial markets were closed, another wave of investors was busy trading gold, oil, and silver on a blockchain platform.

Is the Market Slump Still Making Millions a Day? Is pump.fun's Revenue Real?

Is the Market Slump Still Making Millions a Day? Is pump.fun's Revenue Real?

If it's really that profitable, what's keeping $PUMP's price down?

Understanding x402 and MPP in One Article: The Two Paths of Agent Payments

Understanding x402 and MPP in One Article: The Two Paths of Agent Payments

x402 for in-protocol payments, MPP for off-chain payments

Quick Look at the Latest 18 Graduation Projects from Alliance: Who's the Next Pump.fun?

Quick Look at the Latest 18 Graduation Projects from Alliance: Who's the Next Pump.fun?

The project's core innovation areas include stablecoin payments, AI applications, prediction markets, and RWA tokenization.

It's not just the prediction market that profits from the Iraq War

It's not just the prediction market that profits from the Iraq War

Always maintaining the ambiguity of regulation with "offshore" may be the consensus of the perp DEX.

The "bank card" of AI has caught the attention of the giants

The "bank card" of AI has caught the attention of the giants

AI has not learned how to spend money yet, and the people who fix banks for it have already arrived.

Morning News | U.S. SEC approves tokenized trading on Nasdaq; Animoca Brands announces investment in AVAX tokens; Algorand Foundation completes strategic integration

Morning News | U.S. SEC approves tokenized trading on Nasdaq; Animoca Brands announces investment in AVAX tokens; Algorand Foundation completes strategic integration

Overview of Important Market Events on March 19

$70 trillion wealth transfer, the financial gateway is being rewritten | Interview with Robinhood CEO Vlad Tenev

$70 trillion wealth transfer, the financial gateway is being rewritten | Interview with Robinhood CEO Vlad Tenev

The next key competition in the financial sector may revolve around where the "intergenerational wealth transfer" of up to $90 trillion will ultimately flow.

Whale Opens 20x Oil Short on Hyperliquid With 5.6M USDC at Risk

Whale Opens 20x Oil Short on Hyperliquid With 5.6M USDC at Risk

Key Takeaways A significant leveraged short position on crude oil has been initiated on Hyperliquid using 5.6 million…

Bitcoin: The Ultimate Hedge Against Chaos

Bitcoin: The Ultimate Hedge Against Chaos

Key Takeaways Michael Saylor, co-founder of Strategy, firmly believes Bitcoin is the ultimate hedge against macroeconomic chaos. Strategy…

“Set 10 Major Targets First,” Whale Reopens Long Positions in Bitcoin

“Set 10 Major Targets First,” Whale Reopens Long Positions in Bitcoin

Key Takeaways A prominent cryptocurrency whale known as @Jason60704294 has reopened a long position in Bitcoin. The whale…

Analysis: Despite Bitcoin’s Price Dip, Bullish Trends Persist

Analysis: Despite Bitcoin’s Price Dip, Bullish Trends Persist

Key Takeaways Despite Bitcoin’s decline below $71,000, its bullish momentum remains strong, with significant buying activity from ETFs…

DeFi Protocol Neutrl Faces Potential Security Breach

DeFi Protocol Neutrl Faces Potential Security Breach

Key Takeaways The DeFi protocol Neutrl has reported a suspected attack on its front-end interface, urging users to…

AI Starts to Devour the Manufacturing Industry | Rewire News Morning Edition

When Bezos starts using AI to buy factories instead of building data centers, it shows that he believes the next wave of AI's value is not inside the box.

When Scaling Meets Speed, Ethereum Foundation Introduces "Hardness" to Safeguard the Base Layer

Hardness is a protocol-level commitment to Ethereum core properties, including censorship resistance, privacy, security, and permissionlessness.

Google, Circle, Stripe Flock Together to Let AI Spend Money: Payment Giants' Joys and Worries in 2026 Q1

The real enemy is no longer each other, but zero cost itself

$100 Billion Factory Purchase: Bezos and Middle Eastern Capital Shift AI Money from Cloud to Shop Floor

Bezos doesn't invest in a new model; he invests in a supply chain.

Xiaomi and MiniMax both unleash their ultimate moves, signaling the start of the Agent Pricing War.

No brand, no marketing, let developers vote with their feet in 8 days

Predicting markets has taken the spotlight, but the Perp DEX has been quietly waging war on traditional exchanges.

During a weekend of relentless volatility, while traditional financial markets were closed, another wave of investors was busy trading gold, oil, and silver on a blockchain platform.

Popular coins

Latest Crypto News

10:42

Morgan Stanley submits revised document for Bitcoin ETF: supports physical creation and redemption, has raised $1 million in seed funding

According to official documents, Morgan Stanley has submitted an S-1/A amendment for its Bitcoin spot ETF "Morgan Stanley Bitcoin Trust" (MSBT). The document reveals that the trust has raised $1 million in seed funding by selling 50,000 seed shares at a price of $20 per share.The ETF will explicitly...

10:42

Wall Street giant Cantor and other investment banks are vying to serve as underwriters for FalconX's potential IPO

According to CoinDesk, informed sources revealed that Wall Street financial institutions such as Cantor Fitzgerald are pitching their potential IPO business to the cryptocurrency trading platform FalconX.FalconX has had preliminary discussions with potential advisors but has not yet formally appoint...

10:42

Hong Kong Securities and Futures Commission: The total market value of 11 virtual asset ETFs has exceeded HKD 5.4 billion, and the scale of recognized tokenized funds has reached HKD 8.66 billion

The Hong Kong Securities and Futures Commission released the Q4 2025 report, which pointed out that the Hong Kong Securities and Futures Commission has officially become a member of the Hong Kong Police Force's Virtual Assets Intelligence Working Group, with strategic innovation promoting the contin...

10:42

Senate Republicans consider adding bank deregulation provisions to the cryptocurrency market structure bill

According to Politico, Senate Republicans are considering adding bank deregulation provisions to the cryptocurrency market structure bill to help advance a stalled housing proposal.

10:42

Analysis: Bearish sentiment in Bitcoin options has risen to a five-year high, with institutions making large purchases of downside protection

According to VanEck's latest Bitcoin on-chain report, Bitcoin options traders' bearish sentiment has risen to its highest level in five years, with the put/call ratio peaking at 0.84 last month, an average of 0.77, placing it in the most bearish 9% range since mid-2019. The total size of open intere...