BNY’s giant leap
Ripple has notched up another major win in its quest to bridge traditional and digital markets.
The Bank of New York Mellon Corporation (BNY), an international financial services company entrusted to oversee over $55 trillion in assets, has launched tokenised deposits for institutional clients on Ripple Prime.
The blockchain-based digital payment company launched Ripple Prime, which offers over-the-counter spot trading for major digital assets, including its native XRP token and Ripple USD stablecoin, in November 2025.
Ripple Prime is now part of an integrate suite that includes swaps, derivatives, fixed income and forex products.
While it is no secret that traditional finance is embracing crypto at breakneck speed now that regulatory constraints on blockchain firms are being eased in the US and other markets, the BNY launch is especially significant.
Digital cash breakthrough
While BNY’s tokenised deposits offering is an obvious boon for the Ripple price, an even bigger picture is emerging.
As one analyst wrote on X: “[This] means regular bank deposits now have a digital, on-chain version – not crypto, not stablecoins, but actual bank money.”
And that is the heart of the issue: the BNY-Ripple Prime partnership has created a reality where digital cash can now move instantly around the world at any time of night or day.
That Ripple is front and centre of this monumental shift in finance, which some are calling the start of the “digital dollar era”, puts it in an incredibly-advantageous position.
Howdy, partner
It is important to note that the partnership between Ripple and BNY is not new.
In July 2025, Ripple announced that it had chosen BNY for primary custody of Ripple USD stablecoin reserves. A few months later, the stablecoin reached a $1.26 billion market cap to become the third-largest US-regulated stablecoin.
In terms of the partnership, BNY provides its leading transaction banking services to underpin Ripple USD operations and deliver integrated solutions.
Given this history, some might wonder how Ripple might grow from an institutional perspective since BNY is already its primary custodian.
That question already appears to have been answered.
ETF excellence
Even without BNY’s backing, Ripple has made huge inroads in the exchange-traded funds space. XRP ETFs gathered more than a billion dollars in assets within the space of only three months.
The players are not unfamiliar either, with the likes of Franklin Templeton, Bitwise and Grayscale all listing Ripple ETFs with the US Securities and Exchange Commission (SEC).
This occurred despite XRP’s value dropping by 12% at the back-end of 2025.
The message is thus clear: while the XRP price might have seen better days, institutions remain deeply interested in what the entire Ripple ecosystem can offer.
Global phenomenon
The significance of the partnership between Ripple and BNY cannot be overstated.
It is a giant step not only for crypto but for the global financial market in its entirety, since the prospect of everyday use of digital dollars is now very real.
BNY’s tokenized deposits on Ripple Prime could well prove to be what opens the floodgates.
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