Ripple has appointed The Bank of New York Mellon (BNY Mellon) to manage the USD reserves for its $RLUSD stablecoin. This strategic partnership aims to enhance the security and reliability of the stablecoin's backing, ensuring that the USD reserves are held by a reputable financial institution. BNY Mellon, a leading global custodian, will provide custody services that are expected to bolster confidence in Ripple's stablecoin offering.