Ripple, BNY explore using the XRP Ledger to finance approved invoices

What happened

BNY expanded its partnership with Ripple, adding XRP and the dollar-backed stablecoin RLUSD to its institutional custody platform. The companies intend to let BNY clients mint and redeem RLUSD directly through the bank and explore tokenized trade finance on the XRP Ledger with C2FO.

Confirmed

Global impact / market context

If approved invoices get paid in seconds instead of days, suppliers gain faster cash available for daily operations while capital providers fund those payments. This could shift working capital practices, shorten cash cycles, and test whether public ledgers can host mainstream corporate finance.

Analyst inference

Banks and payment firms are moving from issuing digital assets toward making them usable for payments and collateral. The test links a major custodian bank, a crypto firm, and a working capital provider, showing how traditional finance and public blockchain infrastructure could increasingly connect.

Analyst inference

What to watch

1. BNY clients are intended to mint and redeem RLUSD directly through the bank, making the stablecoin easier to obtain and use within existing custody arrangements. Confirmed
2. The companies plan to test tokenized trade finance on the XRP Ledger with C2FO, targeting supply chain receivables where suppliers receive funds against approved invoices. Proposed
3. Watch whether participating capital providers fund these invoice payments at scale and whether invoice terms stay unchanged, which would show the system works alongside existing corporate payment practices. Analyst inference

Affected assets

• XRP — XRP

Evidence

• theblock.co