BNY Brings the Bling to Ripple!

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Well, old chap, it seems Ripple has landed a bit of a coup, snagging Bank of New York Mellon Corporation (or BNY, as the cool kids call it) as the primary reserve custodian for its spiffy new stablecoin, RLUSD. And, by Jove, President Monica Long is chuffed to bits about it! 🎉

Apparently, the master plan is to create a stablecoin that’s as straight-laced as a vicar’s tea party, with compliance and utility all neatly tied up with a bow, backed by one of the most venerable names in traditional finance. A ripping good idea, if I do say so myself! 💡

RLUSD, you see, is designed for the big boys – institutions, and whatnot – who need a stablecoin that can handle cross-border payment flows and what-have-you with the speed and agility of a gazelle on roller skates. And with BNY on board, Ripple’s gone from “aspirational” to “operational” in one fell swoop! 💥

Another key milestone for RLUSD in the books – partnering with institutions like BNY to custody reserves ensures that RLUSD has the gold standard in regulatory compliance, further cementing our position as the go-to stablecoin for global enterprises. 📈

— Monica Long (@MonicaLongSF) July 9, 2025

Meanwhile, the market’s gone and gotten all excited, like a debutante at her first ball! XRP‘s broken out of its inverse head-and-shoulders pattern, and is currently sashaying its way up to $2.35, with $2.45 and $2.62 in its sights, if the volume holds, of course! 📊

Now, I know what you’re thinking, old bean – what’s the connection between RLUSD and XRP? Well, it seems investors view them as two peas in a pod, and institutional wins tend to spill over like champagne at a wedding reception! 🥂

And, as if all this weren’t enough, Ripple USD has just surpassed a major milestone – $500,000,000 in market capitalization, according to CoinMarketCap! RLUSD achieved this feat in a mere 203 days, or just over six months. Not too shabby, if I do say so myself! 🎉

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2025-07-09 19:28