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. The change provides a route to custody XRP within BNY's servicing platform.

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