BNY Mellon has added XRP and RLUSD to its institutional custody platform, coinciding with a Ripple and C2FO pilot to settle enterprise invoices directly on the XRP Ledger.
Ripple and C2FO are testing the ledger's utility for invoice payment processing in supply chain finance. The XRP Ledger's low transaction fees and high throughput enable faster settlement and reduced costs versus traditional cross-border financing rails.
On-chain settlement creates immutable records and programmatic execution of payments, streamlining reconciliation for trade finance workflows. BNY Mellon's custody support for both XRP and RLUSD, Ripple's USD-pegged stablecoin, removes a key friction point for institutional adoption of on-chain payment flows.
