XRP gets BNY custody: Ripple and BNY expand deal to tokenized trade finance on the XRP Ledger

27 Oct 2026

27 Oct 2026, 15:29 UTC+01:00

Altcoins TradeReviewed News Desk

XRP and Ripple’s dollar stablecoin RLUSD are now supported inside BNY‘s Digital Asset Custody platform, after Ripple and the banking giant expanded their partnership on Tuesday, October 27, according to U.Today. Eligible institutional clients of BNY can now store, protect and move both assets using the bank’s infrastructure.

What the expanded partnership covers

The deal goes beyond custody. Ripple and BNY say they will work together to find new uses for tokenized financial assets on the XRP Ledger (XRPL), with a focus on three areas:

• Trade finance: the companies plan to explore tokenizing traditional assets such as trade receivables, the payments a business is owed for goods or services it has already delivered.
• Payments using RLUSD as a settlement asset.
• Collateral management with tokenized assets.

BNY will also support more tokenized assets and investment products on the XRP Ledger, and its clients will be able to mint and redeem RLUSD directly through the bank. That gives institutions a new, bank-run route into the stablecoin.

Ripple president Monica Long framed the move as a shift from simply issuing tokenized assets to making them usable inside traditional financial markets.

C2FO brings early supplier payments to XRPL

In a related announcement, Ripple and C2FO said they plan to bring C2FO Instant Pay financing and settlement to the XRP Ledger, using RLUSD to settle. The goal is for suppliers to receive early payments in seconds instead of waiting for traditional bank transfers.

A relationship that keeps growing

This is the latest step in a partnership that started with BNY being named the primary reserve custodian for RLUSD in July 2025. The two firms later extended it to custody services for Ripple Prime, Ripple’s prime brokerage arm. The BNY news lands on the same day Ripple announced an RLUSD partnership with Robinhood covering settlement, treasury and trading, which we covered in our Ripple and Robinhood RLUSD report.

What it means for traders

Bank-grade custody from one of the largest custodians in the world removes a practical hurdle for funds and corporates that want XRP or RLUSD exposure but cannot hold assets on an exchange. Tokenized trade finance is still at the exploration stage, so there are no volumes or launch dates yet, and traders should treat it as a long-term adoption story rather than a short-term catalyst. Headlines like this can still move XRP quickly in both directions, so manage position size and leverage.

If you want to trade XRP spot or perpetuals, check fees and liquidity in our crypto exchange comparison, or read our BingX review (our number one pick) and OKX review. Our how we test page explains the scoring. This is not financial advice.

Related reviews

• Bingx review
• Okx review

Sources

• U.Today: XRP Ledger Scores Huge BNY Trade Finance Breakthrough

News is for information only and is not financial advice. More crypto news