Key Takeaways
- Institutional XRP custody expands through BNY’s digital asset platform.
- Ripple expects to reach its projected revenue run rate by year-end.
- XRP payment support and proposed trade finance initiatives broaden access.
Ripple Targets $900M as XRP Access Expands
Ripple said Oct. 28 that it was on track to reach a $900 million annualized product revenue run rate by year-end, reflecting product growth and integration of businesses acquired in 2025. That means revenue at the projected year-end pace would total $900 million over 12 months.
The company is bringing those businesses together so customers can combine payments, custody, stablecoins, prime brokerage, and treasury management. Customers and partners using multiple solutions had tripled this year, Ripple said, naming BNY, brokerage infrastructure provider DriveWealth, Robinhood, and Water.org, a nonprofit expanding access to safe water and sanitation.
Brad Garlinghouse, CEO of Ripple, stated:
“Ripple is at the epicenter of this massive transformation to rewire the world’s financial system, solving the inefficiencies that have slowed money movement for decades with digital assets like XRP.”
Institutional XRP Access Extends From Custody to Payments
BNY’s expanded relationship with Ripple brings XRP into an established bank custody service. Eligible institutional clients can now safeguard, hold, and transfer XRP and Ripple USD (RLUSD) through BNY’s Digital Asset Custody platform, the bank confirmed Oct. 27. The Bank of New York Mellon Corp. (NYSE: BNY) provides that access within its existing governance and operational controls.
The collaboration also extends to proposed uses for the XRP Ledger, including tokenized trade finance with C2FO, a working capital platform. The companies are exploring supply chain finance, which helps suppliers receive early payment for approved invoices, with the aim of broadening investor access. Implementation depends on client requirements.
Alongside that initiative, the bank intends to support more tokenized assets and investment products issued on the ledger. Those plans, together with direct RLUSD minting and redemption, remain subject to final BNY and regulatory approvals. Both plans are meant to make payments, settlement, and collateral workflows more efficient over time.
Payment access is expanding through wallet infrastructure as well. Privy, a Stripe company, is supporting payments with XRP, RLUSD, and other digital assets on the XRP Ledger through programmable wallets, Ripple said. Businesses and developers can use that infrastructure to incorporate digital asset payments into applications, including those built for AI agents.
Robinhood Partnership Connects Trading With Treasury Operations
Ripple’s strategy of combining services also underpins its agreement with Robinhood Markets Inc. (Nasdaq: HOOD), which spans stablecoin settlement, treasury management, and institutional trading. Robinhood plans to use RLUSD on the XRP Ledger for institutional settlement and integrate Ripple Treasury into its own financial operations.
Supporting those stablecoin services is a broader regulatory structure, strengthened by Ripple’s Oct. 26 disclosure of final national trust bank approval. The federally chartered institution is approved to manage segregated RLUSD reserves and act as collateral trustee for holders’ benefit, and it will be authorized to offer fiduciary digital asset custody once it opens. Segregation keeps those assets separate from the issuer’s other holdings.
Standard Custody & Trust Company, Ripple’s New York-regulated trust company, will continue issuing RLUSD, a dollar-backed stablecoin designed to maintain a value of $1 per token. Ripple reported that RLUSD had reached a $2.6 billion market capitalization as its uses expanded across the company’s financial services.
