Key Takeaways:
- Ripple Custody Launch: Ripple introduces digital asset custody services for banks and fintechs, extending its services beyond payment solutions.
- Compliance & Scalability: The new platform integrates with the XRP Ledger and includes compliance tools like AML risk monitoring, tailored for institutional use.
- Institutional Demand: Ripple’s custody services have grown 250% year-over-year, aligning with increased demand from financial institutions for secure digital asset management.
Ripple has expanded its services beyond payment settlements by launching Ripple Custody, a digital asset custody solution for banks and fintech companies.
Announced on October 10, this platform integrates with Ripple’s existing blockchain infrastructure, including the XRP Ledger, and offers compliance tools such as Anti-Money Laundering (AML) monitoring.
We’re launching new features for Ripple Custody, bringing bank-grade custody solutions to fintech and crypto businesses.
— Ripple (@Ripple) October 10, 2024
📶 Simplified onboarding
↔️#XRPL tokenization & DEX support
➡️ Pre-configured policy frameworks
▶️ R/T compliance monitoring
↗️ New UIhttps://t.co/gejagnouTS
Ripple Custody provides a secure way for financial institutions to store, manage, trade, and settle digital assets while complying with regulatory requirements.
This move is part of Ripple’s strategy to capitalize on the growing demand for digital asset custody services, a rapidly expanding market.
The custody division has seen a 250% year-over-year growth and now operates in seven countries.
Ripple aims to meet the increasing need for secure, scalable custody solutions as more banks and financial institutions enter the digital asset space.
The launch follows similar moves by competitors, such as Standard Chartered’s offering in the UAE and Taiwan’s upcoming regulatory sandbox for crypto custody.
Ripple’s new service positions it to capture more institutional demand for secure digital asset management.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
Check Adam out on: