The partnership should enhance regulatory compliance for Ripple, the issuer of ripple USD (RLUSD), and boost institutional credibility for the company as well as the fast-growing stablecoin industry.

Ripple stablecoin RLUSD crosses $500M in circulation as BNY Mellon joins as custodian, signaling deeper integration into traditional finance systems.

The move follows Ripple's application for a national banking license and a Federal Reserve master account to further integrate with the U.S. financial system.