Ripple and BNY are exploring ways to use the XRP Ledger to speed up invoice financing, giving suppliers faster access to money owed by customers. The initiative, developed with working capital provider C2FO, would let capital providers fund approved invoices, potentially delivering payments within seconds instead of days.
The arrangement would not change existing payment terms or invoice due dates, allowing businesses to access funds earlier without altering customer agreements.
BNY Expands XRP and RLUSD Services
BNY plans to let clients mint and redeem Ripple’s dollar-backed RLUSD stablecoin directly through the bank. The partnership also includes XRP custody and explores tokenized assets for trade finance.
Related: XRP Whale Holdings Reach Highest Share Since 2022 as Price Holds Near $1.30
Ripple President Monica Long said financial markets need tokenized assets that can be used for payments and collateral.
RLUSD has reached approximately $2.5 billion in market capitalization since launching in December 2024. More than $1 billion of its supply is on the XRP Ledger.
Ripple Advances Banking Partnerships
Ripple has also partnered with Robinhood on stablecoin settlement, treasury operations and institutional markets. Separately, the Office of the Comptroller of the Currency granted final approval to Ripple National Trust Bank, placing the proposed bank under federal oversight.
However, the trade finance initiative remains under development. Ripple, BNY and C2FO have not announced a launch date.
Related: Bitget Wallet Opens Traditional Banking Rails to 100 Million Crypto Users
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