New York · Federal Reserve (FED) · Bitcoin.com News
Ripple Breaks Down Stablecoin Rules as Institutions Evaluate RLUSD
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Stablecoin licenses carry different reserve and oversight requirements, Ripple emphasized as it outlined RLUSD’s regulatory structure.
Key facts
- The Commodity Futures Trading Commission (CFTC) announced a digital assets collateral pilot on Dec. 8, 2025
- Ripple selected BNY as primary reserve custodian in July 2025 and said it would also use the transaction banking services of The Bank of New York Mellon Corp. (NYSE: BK)
- RLUSD is issued by Ripple subsidiary Standard Custody & Trust Company under a New York Department of Financial Services limited-purpose trust charter
- Ripple’s was one of five crypto-related trust bank applications the OCC conditionally approved on Dec. 12, 2025, alongside institutions associated with Circle, Bitgo, Fidelity, and Paxos
Summary
Protections for stablecoin holders depend on the issuer’s actual license, reserve requirements, and supervision, Ripple argued in a Sept. 11 blog post. This distinction affects how dollar-backed tokens maintain their backing and how holders can exchange them for cash. “A money transmitter license, a state trust charter, and prudential supervision by a banking regulator all involve government oversight, but they carry different capital requirements, different reserve rules, and different consequences if an issuer fails.” RLUSD is issued by Ripple subsidiary Standard Custody & Trust Company under a New York Department of Financial Services limited-purpose trust charter.