Welcome to the US Cryptocurrency Morning Briefing. Here's a concise summary of today's key cryptocurrency developments.
Grab a coffee and check out Ripple's significant movement. This major cryptocurrency company is gaining attention for its partnership with Wall Street that could potentially reshape the future of digital finance.
Ripple Chooses Wall Street Giant to Protect RLUSD Reserves
Ripple has selected BNY Mellon as the primary custodian for RLUSD reserves. This move is aimed at expanding enterprise-grade digital finance.
BNY manages over $43 trillion in assets and will provide Ripple with banking transaction services to support RLUSD operations.
Ripple has selected @BNYglobal as the primary reserves custodian for $RLUSD, an enterprise-grade stablecoin built for real-world utility, supported by one of the largest and most trusted financial services companies in the world. https://t.co/T2ZWkvb9cL
โ Ripple (@Ripple) July 9, 2025
Learn more about ourโฆ
This news was announced on July 9th, but the transaction was completed on July 1st. This reflects Ripple's ambition to connect traditional finance (TradFi) and blockchain innovation.
RLUSD is Ripple's dollar-based stablecoin, approved in December. It is issued under the New York Department of Financial Services (NYDFS) trust charter and is establishing itself as an institutional-grade asset built for utility, not speculation.
Ripple described this partnership as a "shared commitment to building infrastructure for the future of finance".
This collaboration comes as Ripple strengthens its regulatory footprint in the US, including applying for a national bank license supervised by the Office of the Comptroller of the Currency (OCC).
"BNY combines proven custodial expertise with a strong commitment to financial innovation in a rapidly changing environment. Their forward-looking approach makes them an ideal partner for Ripple and RLUSD," quoted Jack McDonald, Ripple's Head of Stablecoin, in the announcement.
RLUSD is backed 1:1 by high-quality liquid assets including cash, cash equivalents, and US Treasuries. Recently, Bitcoin maximalist Max Keiser highlighted the use of US Treasuries among stablecoin issuers in a recent US cryptocurrency news publication.
Meanwhile, RLUSD's design features strict reserve management, independent audits, clear redemption rights, and full asset segregation, meeting the expectations of institutional users and regulatory bodies.
In addition to BNY Mellon, the Swiss financial institution AMINA Bank also provides custody and trading for Ripple's RLUSD.
RLUSD is now available at AMINA Bank ๐
โ AMINA Bank (@AMINABankGlobal) July 3, 2025
In collaboration with @Ripple, AMINA enables a regulated, secure, and seamless way to custody and trade RLUSD โ ideal for both institutions and individuals who demand clarity, compliance, and control.
๐น Your digital dollars are protectedโฆ pic.twitter.com/gbdgDaxugK
Ripple's RLUSD Circulation Surpasses $500 Million
Meanwhile, Ripple's decision to secure Wall Street-grade infrastructure came right after achieving a significant milestone. The circulating supply of RLUSD stablecoin has exceeded $500 million just seven months after its launch.
RLUSD, issued on XRP Ledger and Ethereum, debuted in December 2024. It has quickly become one of the top 20 dollar-pegged stablecoins.
At the time of writing, BeInCrypto reported that Ripple's RLUSD is the fastest-growing stablecoin, after a 47% surge in June, currently ranking 16th on defillama.
๐ @Ripple's RLUSD stablecoin is growing on @ethereum, with supply up ~4x since January. pic.twitter.com/nQ88TYVtnc
โ Token Terminal ๐ (@tokenterminal) June 28, 2025
According to CoinGecko data, this asset records around $26 million in daily trading volume, supported by increasing institutional and cross-border payment demand. At the time of writing, the volume is close to $32 million.
The surge in adoption aligns with the broader trend of the stablecoin market expanding to over $255 billion. US dollar-pegged tokens account for more than 95% of that figure.
RLUSD's growth reflects increasing trust in regulated, enterprise-focused stablecoins at a time when major institutions are exploring tokenized finance.
Today's Chart
Today's Key News
Here's a summary of today's notable US cryptocurrency news:
- Scammers use OP_RETURN to claim ownership of Mt. Gox's lost 80,000 Bitcoin.
- Find out why the conflict between Trump and Musk could be positive for Bitcoin.
- Ripple CEO heads to Capitol Hill. The Senate discusses the future of cryptocurrency.
- Fidelity sparks interest in Ethereum. However, Bitcoin selling risk hinders ETH's rise.
- Bitcoin prepares for supply shortage. Miners and HODLers are consolidating.
- Public companies' stock prices surge as Ethereum investment strategy succeeds.
- Is Elon Musk right to criticize increasing debt ceiling and bet on Bitcoin?
- Solana surpasses Ethereum and TRON with $271 million in Q2 network revenue.
- According to the report, major financial publications almost ignored Bitcoin in Q2.
Cryptocurrency Stock Pre-market Overview
| Company | Closing Price on July 8 | Pre-market Overview |
| MicroStrategy (MSTR) | $396.94 | $399.03 (+0.53%) |
| Coinbase Global (COIN) | $354.82 | $357.00 (+0.61%) |
| Galaxy Digital Holdings (GLXY) | $19.46 | $19.50 (+0.21%) |
| MARA Holdings (MARA) | $17.52 | $17.70 (+1.03%) |
| Riot Platform (RIOT) | $11.57 | $11.70 (+1.12%) |
| Core Scientific (CORZ) | $14.02 | $14.18 (+1.14%) |
