The Ripple cooperation with one of the largest and oldest banks in the United States goes beyond the storage of reserves to maintain the liquidity of Stablecoin, the parties to the agreement said. Partnership involves the provision of transaction banking services that accelerate and reduce the cost of cross -border payments using Rlusd, as well as support of conversion operations in the release and repayment of tokens.
Partnership also involves support by the bank of the Ripple operating infrastructure necessary for the circulation of stablecoin.
Ripple reported that the capitalization of Stablecoin Rlusd exceeded $ 500 million, and cooperation with the BNY Mellon will further strengthen the company’s position in the stabelcoin market.
Earlier Ripple reported that among the partners on the organization of the exchange of stablecoins Rlusd Entered Moonpay, Bitso, Bitstamp, Uphold, Independent Reserve, Bullish and Coinmena.
The day before, Cardano, Charles Hoskinson, recognized the successes of Ripple in expanding the ecosystem of decentralized finance (Defi) and announced the readiness to integrate Rlusd stabilcoin into his blockchain without charging commissions.
Source: Bits
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