Ripple stablecoin RLUSD crosses $500M in circulation as BNY Mellon joins as custodian, signaling deeper integration into traditional finance systems.

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

Ripple has selected The Bank of New York Mellon (BNY Mellon) as the primary custodian for the reserves backing its Ripple USD (RLUSD) stablecoin. BNY Mellon is the oldest bank in the United States, with $50 trillion in assets under custody According to a company press release published at the start of July,