XRP trades at $1.27 despite Ripple trust bank approval and BNY custody
Original headline리플 신탁은행 인가·BNY 수탁에도 XRP 1.27달러 거래
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Ripple said it received a U.S. trust bank charter, with BNY set to provide custody services for the XRP token, while XRP traded near $1.27 on the 4th. The approval gives Ripple a regulated banking foothold and adds a major institutional custodian for the asset, a combination that could broaden institutional access to XRP. UpTrade strategic partnerships lead Billy Trajcevski cautioned that Ripple's shareholders would not be satisfied if the entire business model depended on the success of the XRP token, arguing the private company must build revenue sources beyond the token even as it expands token utility and demand. Watch for details on how the trust bank charter is used and whether BNY custody translates into measurable institutional inflows or token demand.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
XRP (XRP), Ripple (XRP), BNY, Billy Trajcevski, UpTrade
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