The partnership should enhance regulatory compliance for Ripple, the issuer of ripple USD (RLUSD), and boost institutional credibility for the company as well as the fast-growing stablecoin industry.

Ripple has named BNY Mellon as the primary custodian for its RLUSD stablecoin reserves, signaling growing institutional interest in digital assets.

Ripple taps BNY Mellon to hold RLUSD stablecoin reserves, boosting trust and targeting secure cross-border payments for major institutions.