Ripple is approaching a $1 billion annualized revenue run rate, and BNY now supports XRP and RLUSD on its digital asset platform. The open question is whether that business growth turns into demand for XRP itself.
Ripple expects to exit 2026 with $900 million in annualized product revenue, as the company behind XRP nears a $1 billion annualized revenue run rate. The announcement arrives alongside a wider tie-up with BNY, which now handles XRP and Ripple USD (RLUSD) custody.
Ripple revenue grows across its product lines
The revenue milestone reflects growth across payments, custody, stablecoins, prime brokerage, and corporate treasury services. Ripple also reported that customers and partners using multiple products have tripled this year.
Its payments network is approaching $150 billion in lifetime transaction volume by the end of 2026. Ripple also reported more than $16 trillion in transactions enabled across its products during 2025.
BNY adds XRP custody for institutional clients
BNY's expanded relationship gives eligible institutional clients access to XRP and RLUSD custody through its digital asset platform. As of September 30, BNY oversaw $63.4 trillion in assets under custody and administration, plus $2.2 trillion in assets under management.
Institutional investors often require established custody arrangements before holding digital assets. BNY's support can therefore remove an operational barrier for eligible clients seeking to hold or transfer XRP.
The partnership also goes beyond custody. Ripple and BNY are exploring tokenized trade finance on the XRP Ledger, starting with a potential supplier-finance initiative involving working-capital platform C2FO.
Business growth does not yet mean XRP buying pressure
Cryptonews notes that Ripple's infrastructure arguably does not translate into buying pressure for XRP yet. RLUSD, Ripple's dollar-backed stablecoin, can handle settlement where businesses prefer predictable dollar-denominated payments, and the C2FO initiative is designed to use RLUSD on the XRP Ledger.
XRP's potential benefit depends on how institutions use the network, if applications require XRP for liquidity, and if that activity creates sustained demand beyond transaction fees.
Source: Cryptonews
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