Ripple, C2FO and BNY: Stablecoins Meet Tokenized Trade Finance

Stablecoins are moving beyond payments into institutional trade finance. Could the combination of stablecoin settlement and institutional custody unlock a new market for tokenized corporate receivables?

Ripple's partnerships with C2FO and BNY bring together three critical components: stablecoin settlement, institutional custody and a working-capital marketplace that has facilitated over $525 billion in financing.

Here's how the pieces fit together.

1️⃣ C2FO | Trade Finance Origination

C2FO enables suppliers to receive early payments against approved corporate invoices, funded either by buyers or third-party financing providers.

For example, a supplier with a $1 million invoice payable in 60 days could accept $990,000 today, allowing a financing provider to earn the $10,000 difference at maturity.

C2FO provides the corporate relationships, approved invoices and existing financing marketplace.

2️⃣ Ripple | Stablecoin Settlement and Tokenization

Ripple and C2FO are introducing Instant Pay, using RLUSD on the XRP Ledger to accelerate supplier payments.

The longer-term opportunity goes beyond settlement: representing approved corporate receivables as tokenized financial assets that institutional investors could potentially finance or acquire.

3️⃣ BNY | Institutional Custody and Investment Infrastructure

BNY is expanding its digital asset custody capabilities to support XRP and RLUSD, with plans to enable eligible clients to mint and redeem RLUSD directly.

Separately, BNY and Ripple are exploring tokenized trade finance to broaden institutional investor access to receivables.

➡️ The commercial opportunity: Connecting three parts of trade finance

- Origination: C2FO sources approved corporate receivables and financing opportunities.

- Settlement: Ripple provides RLUSD and XRPL infrastructure for transferring digital money.

- Institutional investment: BNY could support custody and servicing infrastructure for tokenized receivables.

Today, the immediate application is faster supplier payments.

Tomorrow, approved corporate invoices could potentially become more accessible, transferable and investable institutional credit assets.

📌 If stablecoins can settle supplier payments in seconds, where does the funding liquidity come from, especially outside banking hours? Learn more: Tokenized Collateral: The Funding Layer Unlocking 24/7 Corporate Payments Liquidity