Altcoins News
By MikeT
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Traditional Banking Support for a Blockchain Stablecoin. The Bank of New York Mellon (BNY Mellon), the oldest bank in the United States and one of the…
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RLUSD Crosses $500 Million in Circulation. RLUSD, Ripple’s U.S. dollar–backed stablecoin, was introduced in late December 2024 and operates…
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Pursuing a Federal Trust Bank Charter. In addition to partnering with BNY Mellon, Ripple is pursuing a national trust bank charter from…
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Regulatory Tailwinds for Stablecoins. Ripple’s timing aligns with a broader shift in the U.S. regulatory landscape regarding stablecoins.
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Institutional Interest and Ecosystem Growth. The RLUSD milestone also reflects Ripple’s broader ambitions to support cross-border payments,…
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What Comes Next for RLUSD. With RLUSD’s supply growing and regulatory discussions heating up in Washington, Ripple’s…
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Ripple has taken a major step in expanding its stablecoin strategy by selecting BNY Mellon to custody the U.S. dollar cash and Treasury reserves backing its RLUSD token.
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The Bank of New York Mellon (BNY Mellon), the oldest bank in the United States and one of the world’s largest custodians, will manage the reserves that back each RLUSD token.
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The partnership is designed to bolster RLUSD’s reliability by ensuring that every token is backed 1:1 by liquid dollar reserves, either in cash or short-term U.S. Treasury bills.
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BNY Mellon’s involvement is not entirely new in the digital asset space. The bank opened its digital asset custody services to institutional clients in 2022 and had already…
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The stablecoin is part of Ripple’s broader vision to provide reliable, regulated digital assets suitable for enterprise use.
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In addition to partnering with BNY Mellon, Ripple is pursuing a national trust bank charter from the U.S. Office of the Comptroller of the Currency (OCC).
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Such a move would place Ripple among a growing number of crypto firms seeking official banking status to gain regulatory clarity and provide more robust services to clients.
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Ripple has positioned RLUSD to comply with these future requirements. The firm has emphasized its commitment to transparency and accountability, stating that RLUSD reserves will…
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Stablecoins have drawn increasing attention from both regulators and major institutions. In recent months, major corporations such as Amazon and Walmart have reportedly evaluated…
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