Ripple’s $500M RLUSD Finds Safe Harbor in BNY Mellon—Gateway to Institutional Adoption?

• Ripple is seeking a U.S. banking license that would allow it to hold RLUSD reserves directly with the Federal Reserve.
• With developments like Crypto.com’s MoU with Emirates Airlines for crypto payments, RLUSD may soon find real-world applications.

Ripple and financial giant BNY Mellon have collaborated in order to offer custodial services to its growing and fast-growing stablecoin RLUSD. It marks a major milestone in the sustainable effort to integrate the crypto market and conventional finance. This comes following the fact that RLUSD has achieved a market capitalization of half a billion dollars, which makes it among the leaders in terms of circulating supply of stablecoins.

RLUSD In Spotlight Amid Ripple & BNY Mellon’s Partnership

With nearly $45 trillion in assets under management, BNY Mellon is now administering RLUSD reserves on an institutional custody level. This partnership signals Ripple’s intent to position RLUSD not just as a digital asset but as a financial tool designed for use within regulated banking frameworks.

In addition to having the custodial arrangement, Ripple is applying to get a U.S banking license. In case the license was granted, Ripple would be capable of maintaining RLUSD reserves directly with the Federal Reserve. This would put RLUSD among the stablecoins in the market, which can access infrastructure offered by the central banks, a step that would enable the coin to comply with the impending regulations in the United States. Similarly, Ripple is already eyeing big inroads in the European market as its stablecoin becomes MiCA-compliant.

For further context, USD-pegged RLUSD gained popularity in the past months. Its market cap has grown by twice during Q3 alone, as data reveal there is an increase in demand for the compliant stablecoins that can meet institutional demands. Ripple has emphasized that the steady rise of the stablecoin is not confined to market trends. Instead, the supply surge is a purposeful tactic to gain the trust of market players, including banks, payment service providers, and regulators.

How Crypto.com’s Feature Could Benefit RLUSD

At the same time, the crypto space is beginning to see early signs of integration with real-world commerce. The deal is marked by a memorandum of understanding signed by Emirates Airlines and Crypto.com to support a plan to allow direct payment of flight tickets with cryptocurrencies via Crypto.com Pay.

While the airline has not confirmed which cryptocurrencies or stablecoins will be supported, the development suggests growing momentum for mainstream digital payment solutions. It could suggest that Ripple’s RLUSD may have a place in the airline’s payment system if they start accepting crypto or stablecoins.

Moreover, Ripple seems to be setting RLUSD towards the next stride in adoption with Swiss-based AMINA Bank announcing major support for the stablecoin, as reported by CNF.. The regulatory-first architecture of stablecoin and the support of one of the most established financial custodians in the world provide stablecoin with a better chance to scale into the retail and institutional markets.

In parallel, a legislative idea aimed at regulating stablecoins, the GENIUS Act, is getting traction in Washington. The fact that Ripple is trying to adhere to the existing financial institutions and their attempts to comply with regulations well in advance can put RLUSD in a good position as the regulatory ecology is adjusted.