08:03 AM EDT, 07/09/2025 (MT Newswires) -- Bank of New York Mellon ( BK ) has been selected by Ripple for primary custody of Ripple USD stablecoin reserves, the companies said.

Ripple and the bank said the companies are seeking to promote digital asset adoption at an institutional scale.

Ripple will also utilize Bank of New York Mellon's ( BK ) transaction banking services, the companies said.