Ripple is making a significant move into the crypto custody space with the launch of new services aimed at helping financial institutions manage digital assets for their clients.
As reported by CNBC on October 10, the San Francisco-based blockchain company has established Ripple Custody to become a competitive player in the expanding crypto custody market.
The new services will feature pre-configured operational and policy settings, integration with Ripple’s XRP Ledger, and tools to monitor anti-money laundering risks, ensuring regulatory compliance.
To bolster its custody offerings, Ripple acquired crypto custodians Metaco in 2023 and Standard Custody & Trust Company earlier this year. The firm is now operational in seven countries and counts major clients like HSBC, Société Générale, and DBS among its partners.
Ripple also plans to allow customers to tokenize real-world assets via its XRP Ledger and is working on launching its stablecoin, RLUSD, for cross-border payments, although a timeline for this release is yet to be determined.
In addition to these developments, Ripple is expanding its services in Latin America. Following a partnership with crypto exchange Mercado Bitcoin, Ripple Payments are now available in Brazil, making it the first country in the region to benefit from Ripple’s comprehensive payment solutions.
