Ripple, BNY Mellon explore XRP Ledger for invoice finance
The initiative involves settling invoice payments using Ripple's RLUSD stablecoin on the ledger, in collaboration with supply chain finance platform C2FO.
Key takeaways
- 1Ripple and BNY Mellon are exploring tokenised trade finance on the XRP Ledger.
- 2The initiative involves settling invoice payments with C2FO using Ripple's RLUSD stablecoin.
- 3BNY Mellon will broaden support for tokenised assets and investment products on XRPL.
- 4RLUSD stablecoin will be directly mintable and redeemable through BNY Mellon's platform.
- 5The goal is to enable suppliers to receive funds in seconds instead of days or weeks.
Ripple and BNY Mellon are exploring the use of the XRP Ledger (XRPL) for tokenised trade finance, an initiative announced on October 27, 2026. This collaboration focuses on settling approved invoice payments using Ripple's RLUSD stablecoin, in partnership with the supply chain finance platform C2FO. The news emerged ahead of Ripple's annual Swell event.
Under the expanded partnership, BNY Mellon plans to broaden its support for tokenised assets and investment products issued on the XRPL. The bank will also enable the direct minting and redemption of the RLUSD stablecoin through its custody platform, CoinGape reported. BNY Mellon already functions as the primary custodian for RLUSD reserves and supports both XRP and RLUSD on its crypto custody platform.
The goal of tokenised trade finance is to accelerate traditional payment processes that underpin global commerce. In conventional systems, businesses often face delays of 30, 60, or even 90 days to receive payments for invoices. Even accelerated payments through traditional bank wires can take several days to clear.
By moving financing and settlement activity onto the XRPL with RLUSD, Ripple aims to significantly cut these waiting times. Ripple stated that this approach could allow suppliers to receive funds in seconds, rather than days or weeks. This speed is intended to improve cash flow for businesses.
As a first step, Ripple and BNY Mellon are advancing a supply chain finance initiative with C2FO. C2FO operates a marketplace that connects businesses seeking working capital to improve their cash flow and supply chain efficiency. C2FO will integrate its 'Instant Pay' solution onto the XRPL, using RLUSD for the settlement of these payments.
This integration connects the XRPL and RLUSD to an established working-capital marketplace, according to Ripple. It is designed to help businesses access capital more quickly for essential operational needs such as payroll, inventory purchases, and new orders. The Block corroborated that Ripple and C2FO are testing the settlement of invoice payments on the XRP Ledger.
Both firms intend to further advance tokenised trade finance on the XRP Ledger, contingent on client requirements and market adoption. The expanded collaboration builds on BNY Mellon's existing relationship with Ripple, which includes its role as custodian for the RLUSD stablecoin.
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