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XRP news gained attention after Moody’s assigned investment-grade ratings to Ripple’s RLUSD stablecoin. The agency awarded an A2 long-term deposit rating and its highest P-1 short-term rating.
The development followed Ripple’s national trust bank approval and expanded custody arrangements with BNY. Coinbase also introduced RLUSD across its trading platforms on Oct. 28.
XRP News: Moody’s Rates RLUSD on Two Blockchains
Moody’s assigned RLUSD its highest short-term rating of P-1, alongside an A2 long-term deposit rating. The ratings cover RLUSD issued on both the XRP Ledger and Ethereum. P-1 represents the agency’s strongest short-term credit assessment, while A2 falls within the investment-grade range.
The assessment gives financial institutions a standard credit measure for reviewing the dollar-backed token.
RLUSD maintains reserves in U.S. dollar deposits, short-term Treasury securities and other cash equivalents. Standard Custody & Trust Company, Ripple’s New York-regulated subsidiary, remains the stablecoin’s issuer.
Ripple Wins Final Approval for National Trust Bank
Additionally, in other XRP news, the Office of the Comptroller of the Currency granted final approval for Ripple National Trust Bank on October 26. The decision allows Ripple to establish a federally supervised trust institution.
The new bank will manage segregated RLUSD reserves and act as collateral trustee. Its approved activities also cover fiduciary custody services for institutional digital assets.
Standard Custody & Trust Company will continue issuing RLUSD under New York regulation. The national trust bank will take on reserve management and custody functions within the approved federal framework. The two entities will serve different roles in Ripple’s stablecoin operations.
The trust bank will operate under OCC oversight and must comply with the requirements set forth in its charter.
BNY Adds XRP and RLUSD to Custody Platform
Also, we recently covered that BNY expanded its digital asset custody relationship with Ripple to include XRP and RLUSD. Eligible institutional clients can now hold and transfer both assets through BNY’s Digital Asset Custody platform.
BNY already serves as RLUSD’s primary reserve custodian. The XRP news brings custody for XRP and RLUSD into a platform that institutions use for asset servicing. The bank’s controls cover safekeeping and transfers for eligible customers.
The two companies are also examining tokenized trade finance using the XRP Ledger. The proposed services would connect blockchain infrastructure with financing arrangements for businesses. Neither company has announced a launch date for those additional services.
Coinbase Adds RLUSD Across Three Blockchain Networks
Ripple and Coinbase announced expanded RLUSD availability on Oct. 28. The stablecoin launched across Coinbase Prime, Coinbase Exchange and Coinbase’s retail application.
Customers can access RLUSD trading and management services through eligible Coinbase accounts. The partnership supports one-to-one conversions from dollars and supported dollar-denominated stablecoins.
Deposits and withdrawals also support XRP Ledger, Base and Ethereum. Ripple will provide liquidity on Base to facilitate RLUSD transactions.
Coinbase plans to extend access to Global Exchange customers, including collateral functionality. However, that expansion follows the initial rollout.
Ripple reported RLUSD circulation exceeding $2.4 billion in its Coinbase partnership announcement. The company continues positioning the stablecoin for payments, custody and institutional settlement.
These developments broaden RLUSD distribution across exchanges and financial institutions. However, they do not establish immediate demand for XRP or guarantee additional blockchain transaction activity.
