XRP Ledger (XRPL) has gained a major boost with the new expansion of Ripple's partnership with banking giant BNY.

This new partnership expands the collaboration between BNY and Ripple. The companies will utilize BNY's institutional financial network with Ripple's blockchain technology, XRP, and RLUSD stablecoin.

More specifically, BNY is now offering XRP and RLUSD support within its Digital Asset Custody platform. This allows eligible institutional clients to securely store, protect, and move these two digital assets using the infrastructure provided by the banking giant.

Ripple and BNY will also work together to identify new use cases for tokenized financial assets within the XRP Ledger. Specifically, the companies are focused on the use cases of trade finance, payments, and collateral management.

According to Ripple's President Monica Long, it is not just about issuing tokenized assets anymore. Instead, it's all about making them usable within traditional financial markets.

Adding trade finance assets to XRP Ledger

A key part of the new partnership expansion is the plan to add trade finance assets to the XRP Ledger.

Ripple and BNY will explore the tokenization of traditional financial assets. This includes, for instance, trade receivables.

Trade receivables refer to the payments a business is entitled to receive for goods or services already provided.

In addition, Ripple and C2FO have announced plans to bring C2FO Instant Pay financing and settlement to the XRP Ledger with RLUSD for settlement purposes. This new solution will enable suppliers to receive early payments in seconds, instead of waiting for traditional bank transfers.

Ripple strengthens ties with banking giant

The new announcement is yet another step forward for Ripple's partnership with BNY.

In July 2025, Ripple announced that BNY would be the primary reserve custodian for RLUSD. Later, the companies extended their partnership to include custody services for Ripple Prime.

In the new partnership, BNY will also provide support for more tokenized assets and investment products within the XRP Ledger.

Further, BNY clients will be able to mint and redeem RLUSD directly through the bank. This could be a potential new way for institutional clients to access the RLUSD stablecoin.