BNY Adds XRP Custody in Expanded Ripple Partnership

Bank of New York Mellon (NYSE:BK) has deepened its partnership with Ripple to include custody services and tokenized trade finance operations running on the XRP Ledger, according to 24/7 Wall St. The expanded agreement allows BNY to offer custody for XRP holders and for Ripple’s stablecoin, Ripple USD ($RLUSD), alongside its role as primary custodian for RLUSD reserves.

Expanded Partnership Details

Ripple and BNY are exploring the use of the XRP Ledger to finance approved invoices, with C2FO bringing trade finance operations to the ledger. Neither Ripple nor BNY has disclosed which specific clients will receive XRP custody or when the service will officially begin. BNY did not mention XRP during its October 15, 2026 earnings call.

As of September 30, 2026, BNY reported $63.4 trillion in assets under custody and administration. Market participants have analyzed the potential impact if a fraction of those assets were allocated to XRP. However, BNY's custody operations simply hold assets chosen by clients without committing the bank's own balance sheet to purchasing tokens.

Market Context

During Q3 2026, BNY reported $5.68 billion in revenue, with fee income rising 12% year over year to $4.08 billion. XRP traded at $1.32 on October 27, 2026, marking a 2.3% increase over 24 hours, while remaining down 13% over the past month.

Key facts

• BNY holds $63.4 trillion in assets under custody and administration as of September 30, 2026.
• The new agreement adds custody for $XRP and $RLUSD to BNY's existing stablecoin reserve role.
• Trade-finance operations on the XRP Ledger are being developed in collaboration with C2FO.
• BNY reported Q3 2026 revenue of $5.68 billion with fee income reaching $4.08 billion.