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 CEO urges U.S. lawmakers to clarify XRP regulation as BNY Mellon joins Ripple to custody RLUSD stablecoin reserves for institutional clients.

In Q3 so far, RLUSD’s market cap has doubled, with it kicking off July at a record $500 million. With institutional-grade custody now in place, Ripple is clearly positioning RLUSD for deeper integration into TradFi rails.