BNY Mellon and Ripple Prime Launch Programmable Cash for Institutions
BNY Mellon has teamed with Ripple Prime — Ripple’s institutional arm — to roll out technology that tokenizes traditional bank deposits into programmable cash for institutions. Ripple Prime is among the first major clients to adopt BNY’s platform, enabling deposits to be issued as tokenized balances that can be moved and conditioned using smart contracts and enterprise rails.
The development matters because it bridges custodial banking with programmable ledger-based settlement, potentially speeding reconciliation, reducing manual plumbing and enabling new treasury use cases for corporates and asset managers. Market watchers and XRP holders will be watching for pilots and regulatory clarity, as the pairing of an established custodian with a blockchain infrastructure provider could influence broader institutional adoption of tokenized cash and on‑chain liquidity solutions.