Ripple is expanding its collaboration with banking giant BNY Mellon to introduce institutional custody support for XRP and RLUSD, as well as tokenized trade finance initiatives, to the XRP Ledger. BNY Mellon now offers XRP and RLUSD support on its digital asset custody platform, allowing eligible institutional clients to securely store, protect, and transfer both digital assets. Furthermore, the two parties will work together to explore new use cases for tokenized financial assets within the XRP Ledger, focusing on trade finance, payments, and collateral management, with plans to add trade finance assets, such as trade receivables, to the XRP Ledger. Ripple President Monica Long stated that this move aims to make tokenized assets more usable within traditional financial markets.