BNY adds XRP, RLUSD custody as Ripple, C2FO explore invoice financing

Key points

• BNY now supports XRP and RLUSD on its Digital Asset Custody platform for eligible institutions
• Ripple and C2FO plan to settle Instant Pay early invoice payments in RLUSD on the XRP Ledger
• RLUSD market cap is about $2.5 billion, according to Ripple
• No launch dates given for RLUSD minting at BNY or the C2FO work

BNY said on Tuesday it now supports XRP and Ripple’s RLUSD stablecoin on its Digital Asset Custody platform, while Ripple and the working capital platform C2FO announced an effort to settle early payments on approved invoices on the XRP Ledger (XRPL). The announcements came at Ripple’s Swell 2026 event in New York, according to The Block.

What BNY’s custody expansion covers

According to Ripple’s release, eligible institutional clients can now safekeep, hold and transfer XRP and RLUSD through BNY. The bank already serves as the primary reserve custodian for RLUSD and has a custody relationship with Ripple Prime.

The companies also described planned offerings that remain subject to BNY and regulatory approvals:

• Broader support for tokenized assets and investment products issued on the XRPL.
• The ability for BNY clients to mint and redeem RLUSD directly through the bank.

Ripple President Monica Long said the focus is on making tokenized assets “usable for payments and collateral across financial markets,” according to the release. The release did not give dates or fees for the planned services.

How the C2FO invoice financing would work

In a separate release, Ripple and C2FO said they plan to move the financing and settlement activity behind a new product, C2FO Instant Pay, onto the XRPL, with settlement in RLUSD. Ripple’s BNY release describes a supply chain finance initiative with C2FO as the first step in the two companies’ tokenized trade finance work, aimed at expanding investor access to the asset class.

The companies said businesses often wait 30, 60 or 90 days to be paid after delivering goods or services. C2FO’s existing early payment programs, which include Dynamic Discounting and Dynamic Supply Chain Finance, let suppliers draw on approved invoices sooner, but the release said payments can still take several days to clear through traditional bank settlement.

Under the proposed model:

• Businesses would keep accessing early payment through C2FO as they do today.
• Instant payments would be funded by participating capital providers and settled on the XRPL.
• Suppliers would receive funds in seconds rather than days.
• Invoice terms and due dates would stay as agreed.

Ragui Selwanes, president and chief operating officer for the Americas at C2FO, said in the release the effort points to “a new model for financing approved receivables.” Ripple’s release calls C2FO an early example of the approach and says businesses interested in Instant Pay can join a waitlist. Neither release gives a launch date, rollout schedule or transaction volumes.

Ripple’s figures and the Robinhood tie-up

Ripple said RLUSD has a market capitalization of about $2.5 billion, with more than $1 billion issued on the XRPL. The company said the ledger has processed more than 4.6 billion transactions since launch and settles in about three to five seconds.

The Block also reported that Ripple announced a partnership with Robinhood covering stablecoins, treasury operations and institutional markets. According to the report, RLUSD is already available on Robinhood Chain and Bitstamp by Robinhood, with availability in the Robinhood app expected later this year, and Robinhood plans to use RLUSD for institutional settlement on the XRPL.

What remains unsettled

The custody support for XRP and RLUSD is live for eligible institutional clients, but the minting and redemption feature, the broader tokenized-asset support and the C2FO work depend on further approvals or client demand and have no announced timeline. Ripple’s release says the trade finance work is subject to client requirements.