Ripple expands BNY custody deal, brings C2FO trade finance to XRP Ledger

Ripple has expanded its partnership with BNY to support institutional custody of XRP and RLUSD while advancing tokenized trade finance on the XRP Ledger through a separate collaboration with working-capital platform C2FO. Summary BNY now supports XRP and RLUSD through its institutional digital asset custody platform. Ripple and BNY are exploring direct RLUSD minting, redemption and tokenized trade finance. C2FO plans to use XRPL and RLUSD to settle financing against approved invoices. The proposed settlement service targets delays that can leave suppliers waiting days for funds. According to an October 27 announcement, BNY now supports both digital assets through its Digital Asset Custody platform, allowing eligible institutional clients to hold, safeguard and transfer them. The companies are examining additional services involving stablecoin issuance, tokenized investment products and trade finance, although those arrangements remain under development. In a separate announcement the same day, Ripple and C2FO outlined plans to use the XRP Ledger and RLUSD for financing and settlement tied to approved business invoices. The arrangement focuses on suppliers that currently wait 30, 60...