<ul data-eligibleForWebStory="false"><li>Ripple has partnered with The Bank of New York Mellon (BNY) to act as the primary custodian of reserves backing the RLUSD stablecoin, emphasizing the move's potential to drive institutional adoption of digital assets.</li><li>BNY's selection as the custodian for RLUSD reserves, given its reputation in financial services as the oldest bank in the U.S., aims to enhance institutional credibility for the stablecoin.</li><li>RLUSD, launched in December 2024, is backed by high-quality liquid assets and will have these reserves held by BNY to maintain its dollar peg.</li><li>Ripple plans to leverage BNY's transaction banking services in addition to the custodian role, following recent regulatory shifts that allow banks to engage with cryptocurrencies more freely.</li></ul>

Ripple Partners with Oldest U.S. Bank for RLUSD Custody

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