Ripple Teams Up With BNY Mellon as CEO Predicts Crypto Boom!

by

Ah, Ripple. Always on the move. In a move that’s as smooth as a silk scarf gliding over a marble floor, the crypto darling has teamed up with BNY Mellon, a banking giant that is about as old as your grandma’s fine china—241 years old to be exact. Their task? Oh, just the little job of managing Ripple’s precious stablecoin, RLUSD. Not a big deal, right?

BNY Mellon, a behemoth with $2 trillion in assets (yes, trillion), is now the official custodian of RLUSD. I guess it’s safe to say Ripple is getting cozy with the banking elite. And you thought crypto was all about rebellion! Turns out, it’s about making big, comfy deals with the oldest of the old-school institutions.

Oh, but wait—BNY Mellon isn’t just babysitting Ripple’s stablecoin. No, no. They’ll also be providing Ripple with transaction banking services. The real kicker? This partnership is supposed to smooth the rocky roads between dollar-pegged crypto assets and those stiff, traditional financial assets. Because, really, what’s better than adding crypto to the old banking pot, right?

Jack McDonald, the senior vice president of stablecoins at Ripple, obviously had to sprinkle some glitter on this deal, saying, “Ripple USD addresses a critical gap in the market… designed to meet the rigorous standards of leading financial institutions.” Yeah, because when you think “stablecoin,” you think of rigorous standards, not “wild, free-spirited, anything-goes crypto!”

But, wait! There’s more from McDonald, “BNY brings together demonstrable custody expertise… making them the ideal partner for Ripple and RLUSD.” Oh, Jack, you sure know how to butter up a bank.

Now, enter Brad Garlinghouse, Ripple’s CEO, who in an interview with CNBC, delivered this gem: “BNY Mellon has, for a very long time, been amongst the most trusted partners out there for a custody bank… we think it’s indicative of the shift of tide, where we’ve had headwinds for this industry are now becoming tailwinds.” Fancy words for, “Hey, crypto is catching some wind in its sails, and the big boys are finally coming aboard.” The future, apparently, is looking very green for crypto—both literally and figuratively. 🌱

As for XRP, Ripple’s token, it’s trading at $2.38, a modest 3.9% increase. It’s a subtle rise, like a delicate puff of smoke from a cigar you’ll never smoke. But hey, a rise is a rise, right?

Read More

2025-07-09 23:07