Ripple Expands BNY Custody and Enlists C2FO for Trade Finance

BNY’s Digital Asset Custody platform now allows institutional clients to hold and transfer XRP and the RLUSD stablecoin. This move evolves an existing relationship where BNY already acts as the primary reserve custodian for Ripple’s dollar-backed asset. Beyond basic custody, the two firms are exploring direct minting and redemption services, alongside potential tokenized investment products. Carolyn Weinberg, BNY’s chief innovation officer, framed the integration as a bridge between traditional banking infrastructure and the efficiency of blockchain-based liquidity.

Simultaneously, Ripple is working with C2FO to overhaul trade finance. The partnership targets the friction inherent in business-to-business payments, where suppliers frequently endure 30 to 90-day wait times. By utilizing the XRP Ledger and RLUSD, the companies plan to settle approved invoices in seconds rather than days. While C2FO has historically facilitated over $250 billion in working capital through traditional channels, this new 'Instant Pay' service aims to digitize payment claims. Both the BNY and C2FO initiatives remain in development, with the companies yet to disclose specific transaction volumes or launch timelines for these advanced financial services.