Ripple RLUSD Stablecoin Gains Traction as BNY Mellon Plans 24/7 Treasury Settlement

According to a client letter, BNY Mellon has already conducted after-hours Treasury transactions utilizing stablecoin issuers earlier this year. The bank is also preparing to launch tokenized U.S. Treasuries and commence pilot transactions on its private blockchain before the conclusion of 2026. The ultimate goal is to fully support 'always-on' settlement of both conventional and tokenized Treasuries by 2027.

Ripple executive Jack McDonald expressed enthusiasm for the development, highlighting RLUSD's potential role in supporting the transition to 24/7 Treasury markets and institutional digital asset infrastructure. This increased attention follows BNY Mellon's recent appointment as the main reserve custodian for Ripple USD (RLUSD).

Ripple developed the RLUSD stablecoin under a New York Department of Financial Services Trust Company Charter, specifically targeting enterprise use rather than retail payments. The stablecoin is designed with a focus on regulatory requirements, transparency, and utility for financial institutions, aiming to expedite settlement transactions and reduce costs for cross-border enterprise payments. Under their agreement, BNY Mellon will manage the protection of RLUSD's reserves, offer transaction banking solutions, and provide the necessary infrastructure to integrate stablecoins with traditional financial systems.