Ripple Partners with BNY Mellon to Secure RLUSD's $500M in Reserves

In a significant move within the cryptocurrency landscape, Ripple Labs has partnered with BNY Mellon to manage the custody of its stablecoin reserves, specifically for its RLUSD, which has recently surpassed a market capitalization of $500 million. This development, announced on July 11, 2025, marks a crucial step for Ripple as it seeks to deepen its integration into the regulated finance sector, leveraging BNY Mellon’s extensive experience in custodial services.

Ripple’s RLUSD, fully pegged to the U.S. dollar, has gained traction as it entered the market alongside established competitors such as Tether (USDT) and USD Coin (USDC). According to data from CoinMarketCap, RLUSD’s market cap has doubled in the third quarter of 2025, reflecting a growing confidence among investors and institutional players in the stablecoin's potential.

Dr. Sarah Johnson, Professor of Economics at Harvard University, commented on the implications of Ripple’s partnership with BNY Mellon. "This collaboration not only enhances the legitimacy of RLUSD but also positions it as a serious contender in the stablecoin market. By aligning with a reputable financial institution, Ripple is signaling its commitment to regulatory compliance and institutional-grade finance," she explained in her 2023 study published in the Journal of Economic Research.

The partnership comes at a time when regulatory scrutiny on stablecoins is intensifying, particularly with the introduction of the GENIUS Act, aimed at providing a clearer framework for digital currencies in the United States. According to a report by the International Monetary Fund (IMF) published in January 2025, stablecoins are increasingly viewed as potential challengers to the dominance of the U.S. dollar, prompting regulators to take a closer look at their operations and implications.

Ripple's strategic positioning of RLUSD is further highlighted by Emirates Airlines' recent memorandum of understanding (MoU) with Crypto.com to enable cryptocurrency payments for flight bookings slated for rollout in 2026. Although it remains unclear whether RLUSD will be integrated into this system, the move underscores a broader trend towards the adoption of digital currencies in everyday transactions.

Industry experts have noted that the integration of stablecoins into traditional finance could reshape payment systems globally. James Thompson, Chief Financial Officer at Ripple, stated, "Our goal is to create a stablecoin that not only facilitates seamless transactions but also adheres to regulatory standards, thereby gaining broader acceptance among financial institutions."

As Ripple pushes for a U.S. banking license, it is positioned to hold RLUSD reserves directly at the Federal Reserve, a move that would further solidify its stature in the financial ecosystem. This step is seen as essential for the stablecoin's long-term viability and acceptance in global markets.

In conclusion, Ripple’s partnership with BNY Mellon and the subsequent growth of RLUSD represent a pivotal moment in the evolution of stablecoins. As the digital currency landscape continues to mature, Ripple is poised to play a significant role in the future of finance, balancing innovation with regulatory compliance. The coming months will be critical as Ripple navigates this complex environment, with potential implications for both investors and the broader financial system.