Ripple’s $RLUSD stablecoin is drawing renewed attention after BNY Mellon outlined plans to develop a 24/7 settlement system for the U.S. Treasury market.

The banking giant aims to support round-the-clock settlement for both traditional Treasury transactions and tokenized Treasury transactions over the next few years. The initiative would extend settlement availability beyond conventional market operating hours and include tokenized versions of U.S. Treasury instruments.

U.S. Treasuries are among the most widely used assets in global finance, serving as benchmarks, collateral, and liquidity instruments across markets. Extending settlement infrastructure to operate continuously could become especially relevant as tokenized Treasury products move onto blockchain-based rails, where transactions can occur outside traditional banking hours.

BNY Mellon’s plans place additional focus on stablecoins such as Ripple’s $RLUSD, which are designed for blockchain-based payments and settlement activity. In tokenized markets, stablecoins are often discussed as a potential cash leg for settling transactions involving digital representations of real-world assets, including government securities.

The development comes as major financial institutions continue to explore tokenization, a process that represents real-world assets such as government securities on blockchain-based systems. What remains to be seen is how legacy settlement providers, regulated stablecoin issuers, and tokenized asset platforms connect their systems as institutional adoption develops.