Key Highlights
- Ripple CEO Brad Garlinghouse reaffirmed his support for Treasury Secretary Scott Bessent, citing his ongoing leadership and backing for the CLARITY Act.
- Ripple Treasury launched its 24/7 Returns product, allowing corporate clients to earn yields on idle balances using assets such as the Ripple USD (RLUSD) stablecoin.
- Strategic commercial milestones were highlighted, including an agreement with Robinhood, expanded custody and trade finance ties with BNY, and final approval for Ripple National Trust Bank.
During the expanded Swell conference held Oct. 27-29 at The Shed in Manhattan, Ripple leadership presented major commercial updates and reiterated strong alignment with federal financial leadership. The gathering integrated Swell, Apex, and UBRI Connect, hosting more than 100 speakers and over 80 specialized sessions across payments, digital asset markets, technology, and institutional finance.
Brad Garlinghouse Reaffirms Backing for Treasury Secretary Scott Bessent
Speaking in the context of the conference, Ripple Chief Executive Officer Brad Garlinghouse assessed the administrative performance of Treasury Secretary Scott Bessent. The executive’s endorsement originated in November 2024 when President-elect Donald Trump initially selected Bessent to lead the U.S. Department of the Treasury. At the time of the nomination, Garlinghouse characterized Bessent as the perfect pick
and projected that his leadership would foster digital innovation and the broader cryptocurrency industry.
That policy alignment evolved further in September through Ripple’s vocal backing of Bessent’s push for the CLARITY Act. On Sept. 14, Garlinghouse publicly called on United States senators to pass the negotiated bill, emphasizing that lawmakers had reached meaningful compromises. Bessent’s framework included establishing Treasury authority to step in should stablecoin-induced deposit migration negatively impact community banking institutions.
Ripple Treasury Introduces 24/7 Returns and AI-Driven Liquidity Tools
In addition to addressing regulatory affairs, Garlinghouse highlighted the Oct. 26 launch of Ripple Treasury’s 24/7 Returns feature. The service enables qualifying corporate clients to generate yields on idle corporate operating cash during nights, weekends, and federal holidays. To participate under the program’s requirements, eligible assets must reside in a designated Ripple wallet.
The company confirmed that Ripple USD (RLUSD), its proprietary dollar-backed stablecoin, is an eligible asset for the program. The infrastructure allows institutional enterprises to accrue yield without needing to directly oversee the underlying digital asset transactions. In tandem with the returns product, Ripple Treasury employs artificial intelligence modules to assist with automated liquidity management, cash positioning, forecasting, financial reconciliation, and cross-border disbursements.
Institutional Expansion: Robinhood, BNY, and Federal Trust Bank Approval
Ripple also emphasized a succession of major commercial and institutional developments. The company established an agreement with Robinhood spanning customer-facing products, institutional financing instruments, and treasury operations. Furthermore, Garlinghouse detailed an expanded alliance with BNY covering digital asset custody and prospective tokenized trade finance frameworks. The updates were accompanied by the announcement of final regulatory approval for Ripple National Trust Bank, with additional ecosystem milestones slated for disclosure throughout the conference week.
Why This Matters
The convergence of regulatory collaboration and institutional treasury services marks an important shift in Ripple’s enterprise strategy. By supporting Treasury Secretary Scott Bessent and the CLARITY Act, Ripple is actively engaging with federal safeguards designed to protect traditional community banking systems while legitimizing stablecoin integration. Simultaneously, introducing round-the-clock returns on assets like RLUSD addresses long-standing corporate treasury constraints, offering liquidity optimization outside of standard banking hours alongside Tier-1 partners like BNY and retail giants like Robinhood.
Frequently Asked Questions
What is the Ripple Treasury 24/7 Returns feature?
Introduced on Oct. 26, 24/7 Returns is an institutional offering that enables eligible enterprise customers to generate yields on qualifying digital holdings held in a Ripple wallet—specifically targeting capital that would normally sit idle during weekends, holidays, and overnight periods.
Is Ripple USD (RLUSD) eligible for the 24/7 Returns product?
Yes. Ripple confirmed that its dollar-pegged stablecoin, RLUSD, is among the qualifying digital assets eligible to earn returns through the platform without requiring firms to independently manage the underlying operations.
What legislative effort did Brad Garlinghouse and Scott Bessent support?
Garlinghouse urged senators to support the negotiated CLARITY Act on Sept. 14, backing Bessent’s push for a legislative compromise that included Treasury authority to address potential stablecoin-driven deposit flight from community banks.
