BNY offers XRP custody, but only 1 rollout type exists

BNY now supports custody of XRP and Ripple's RLUSD stablecoin for eligible institutional clients, according to an Oct. 27 announcement from Ripple, giving institutions another way to hold and transfer the XRP Ledger's native token.The service offers a banking route to safeguard the asset and manage its operations. BNY describes its platform as connecting custody with settlement, accounting and servicing.The announcement names no funded XRP custody client and discloses neither an XRP balance nor an incremental purchase. Moving tokens that clients already own to BNY would change their custodian without necessarily creating demand for more coins.BNY’s XRP custody supports transfers and client allocations, but the announcement does not disclose balances or new purchases.What BNY's custody support changesThe change provides a route to custody XRP within BNY's servicing platform. The bank's existing workaround for stablecoins and tokenized assets provides context, but XRP custody directly concerns the token an institution would own.BNY says its general custody platform uses segregated wallets, operational controls, and oversight. It also presents digital and traditional assets in a combi...