On July 2, 2025, Ripple announced a partnership with BNY Mellon, appointing them as the primary reserve custodian for its stablecoin, Ripple USD (RLUSD). This collaboration aims to integrate RLUSD with traditional finance.
RLUSD, launched in December 2024, is a U.S. dollar-pegged stablecoin designed for institutional use. As of July 3, 2025, the circulating supply of RLUSD has exceeded $500 million. (Source: Reuters, July 2, 2025)
Ripple's CEO, Brad Garlinghouse, has applied for a U.S. national bank charter and a Federal Reserve master account. This is to enhance regulatory clarity and operational efficiency for RLUSD. (Source: Reuters, July 2, 2025)