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One early winner of the stablecoin craze is Alexander Hamilton's 241-year-old bank
A financial institution founded 241 years ago by Alexander Hamilton is emerging as one of the big early winners of Wall Street's new stablecoin craze. The latest sign came Tuesday when major crypto firm Ripple announced that Bank of New York Mellon (BK), also known as BNY, would become the primary custodian for the reserve assets of its $500 million stablecoin, Ripple USD (RLUSD). The New York bank that can trace its roots back to 1784 and one of the country's founding fathers will manage the mix of US Treasury bills and other notes owned by Ripple while also offering Ripple technology and other transaction banking ... (full story)
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