The partnership should enhance regulatory compliance for Ripple, the issuer of ripple USD (RLUSD), and boost institutional credibility for the company as well as the fast-growing stablecoin industry.

Ripple’s CEO said the tie-up with BNY Mellon represents how regulatory headwinds are no longer a reality for the XRP-linked firm.

One of the oldest U.S. banks is taking on custody of RLUSD, as stablecoins continue their perceived march toward general acceptance.