Ripple, BNY explore using the XRP Ledger to finance approved invoices
BNY adds XRP and RLUSD to its custody platform, as Ripple and C2FO test settling invoice payments on the XRP Ledger.
Banking giant BNY has added XRP and Ripple's stablecoin RLUSD to its digital asset custody platform, while Ripple and working capital marketplace C2FO are jointly testing the settlement of invoice payments on the XRP Ledger. The developments signal a deepening institutional engagement with Ripple's blockchain infrastructure across both custody and trade finance applications.
BNY, one of the world's largest custodian banks with over $50 trillion in assets under custody, has been gradually expanding its digital asset offerings as regulatory clarity in the United States has improved. The addition of XRP and RLUSD to its custody suite reflects growing institutional demand for diversified crypto holdings beyond Bitcoin and Ethereum. Ripple launched RLUSD, a dollar-pegged stablecoin, in late 2024, positioning it as a bridge currency for enterprise payment flows.
The collaboration with C2FO targets supply chain finance, a market estimated to be worth trillions of dollars globally. By settling approved invoices on the XRP Ledger, the pilot aims to reduce settlement times and counterparty risk compared to traditional financing mechanisms. If successful, the project could demonstrate a practical enterprise use case for blockchain-based payment rails in mainstream commercial banking.
Observers will be watching whether the C2FO pilot advances to full commercial deployment and whether additional custodians follow BNY in supporting RLUSD and XRP. Broader adoption of the XRP Ledger in trade finance could further strengthen Ripple's institutional positioning.
Source: The Block
