Ripple and BNY marked a milestone moment for institutional finance as tokenized deposits entered live use. BNY, a global financial services company, launched its on-chain deposit capability. Ripple shared the development on social media platform X on Jan. 9, 2026, highlighting Ripple Prime as an early adopter and expressing excitement around the rollout.

The crypto firm stated:

Today, our partners at BNY launched tokenized deposit services for institutional clients – bringing the promise of digital assets directly into the banking system – with Ripple Prime as an early adopter.

“We’re proud to expand our longstanding, strategic collaboration with BNY, the primary reserve custodian of RLUSD. Together, we are bridging traditional and digital markets,” Ripple added.

BNY (NYSE: BK) detailed in its own announcement that the launch enables an on-chain mirrored representation of participating clients’ deposit balances on its Digital Assets platform. The bank noted:

This launch helps to advance BNY’s ambitions to support programmable, on-chain cash for institutional market infrastructure.

Operating on a private, permissioned blockchain, the capability remains governed by BNY’s established risk, compliance, and control frameworks, while traditional systems of record continue to support regulatory and reporting requirements.

Read more: Ripple Partners With BNY to Serve as RLUSD Custodian

Initial use cases focus on collateral and margin workflows, where faster settlement and improved liquidity efficiency can deliver immediate value. As markets transition toward always-on operating models, BNY aims to expand the functionality toward near real-time, rules-based cash movements that reduce friction and enhance operational efficiency.

Industry participants across asset management, trading, clearing, and digital asset services have characterized tokenized deposits as a foundational building block for the next phase of financial market infrastructure. The initiative positions tokenized bank money alongside stablecoins and tokenized funds as interoperable components of a unified digital ecosystem. Within this shift, Ripple’s collaboration with BNY reflects a broader convergence between crypto-native firms and established financial institutions seeking speed, transparency, and programmability without compromising regulatory alignment. The launch signals growing acceptance of on-chain cash as a core institutional tool, reinforcing the view that programmable bank deposits will play a central role in connecting traditional financial markets with digital settlement rails at scale.

• What did Ripple and BNY launch together?
  Ripple Prime became an early adopter of BNY’s live tokenized deposit services for institutional clients.
• How do BNY’s tokenized deposits work?
  They mirror client deposit balances on-chain while remaining governed by BNY’s existing compliance and control frameworks.
• What are the initial use cases for tokenized deposits?
  Early applications focus on collateral and margin workflows to improve settlement speed and liquidity efficiency.
• Why are tokenized deposits important for institutions?
  They enable programmable, on-chain cash that integrates traditional banking with digital market infrastructure.

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