X Finance Bull, a popular digital asset commentator, has highlighted a series of major developments involving XRP, Ripple, and top-tier financial institutions to address ongoing doubts about XRP’s legitimacy within the cryptocurrency sector.
BNY expands digital asset custody
Bank of New York Mellon (BNY) has broadened its digital asset custody platform to support XRP and RLUSD, reflecting increased institutional interest in digital currencies. This expansion allows eligible institutional clients to store and transfer these assets using BNY’s infrastructure, following an announcement made in late October 2026.
BNY has already been the primary custodian for RLUSD reserves since July 2025 through its partnership with Ripple Prime. The latest collaboration further deepens this relationship, extending custody services from RLUSD to XRP itself.
Despite the announcement, BNY and Ripple have not specified which clients will immediately benefit or provided a timeline for public rollout of the new custody options.
Ripple gains trust bank approval in the US
Ripple has obtained final approval from the US Office of the Comptroller of the Currency (OCC) to establish Ripple National Trust Bank. This milestone, granted on October 26, 2026, finalizes a process that began with conditional preliminary approval in December 2025.
Ripple National Trust Bank will deliver fiduciary custody for digital assets and oversee the segregated reserves supporting RLUSD. The institution will also act as a collateral trustee for these reserves, placing Ripple’s services under federal oversight and strengthening its presence with institutional investors.
The OCC’s final approval secures Ripple’s federally supervised structure for its trust banking operations, enabling expanded service to institutional clients and custody of digital assets.
Institutional tokenization enters the XRP Ledger
Institutional adoption of tokenized assets on public blockchains also continues to grow. Aviva Investors announced the launch of a tokenized share class for its US Dollar Liquidity Fund on the XRP Ledger, initially offering £50 million in tokenized shares for investors seeking blockchain-based exposure.
While Franklin Templeton remains active in digital asset tokenization through its Benji platform, no new live fund launch tied to the XRP Ledger has been confirmed in 2026. As such, Aviva’s fund stands as a concrete instance of asset tokenization directly on XRPL this year.
Hong Kong adopts 24/7 tokenized settlement
The Hong Kong Monetary Authority has unveiled a major step toward around-the-clock settlement for tokenized deposit transactions. On November 2, 2026, the authority announced an expansion of its EnsembleTX program, enabling continual interbank settlement using tokenized central bank money.
Participating Hong Kong banks will use proprietary blockchain networks to connect with the newly enhanced EnsembleTX. However, this project does not use the XRP Ledger as part of its core technical infrastructure.
As institutional and regulatory momentum for digital asset infrastructure accelerates, individuals tracking these rapid changes in assets like XRP may benefit from timely information and customized monitoring tools. Real-time alerts provided by CryptoAppsy allow users to monitor XRP custody updates and regulatory shifts as they unfold, helping investors stay informed about the evolving landscape around institutional adoption and new asset platforms.
Recent moves by BNY Mellon to support XRP and RLUSD custody, Ripple’s approval for a trust bank, and Aviva’s tokenized fund launch on the XRP Ledger collectively indicate increasing engagement from established financial institutions with blockchain and digital asset technology.
