Ripple Wants Tokenized Money to Do Real Work, and Three Big Partners Are Signing On

Ripple used its Tuesday announcements to make one point: issuing tokens is no longer the goal, using them is. President Monica Long said the focus is shifting toward payments and collateral across financial markets. Three separate deals show what that means in practice.

What the BNY Deal Adds for Institutional Clients

BNY already safeguards the reserves behind RLUSD and has a custody link with Ripple Prime. Now XRP and RLUSD will also sit on its institutional custody platform. The companies plan to let clients create and redeem RLUSD directly through the bank. No launch dates have been given, and the work is still subject to further development.

How Suppliers Could Get Paid Faster

C2FO, a working capital provider, joins the effort to test tokenized receivables on the XRP Ledger. Instead of waiting several days for a bank transfer, a supplier with an approved invoice could be paid within seconds. Outside capital providers put up the money, and the original invoice terms and due dates do not change.

RLUSD and XRP Ledger Numbers

Since its December 2024 launch, RLUSD has grown to about $2.5 billion in value, and over $1 billion of that lives on the XRP Ledger. The network has processed more than 4.6 billion transactions, each settling in three to five seconds.