Ripple Brings Bank-grade Custody Solution to Crypto Businesses

Ripple, the leading provider of digital asset infrastructure, announced the launch of new features and functionality to Ripple Custody, bringing the benefits of its market-leading bank-grade custody technology to fintechs and crypto businesses. The latest update includes a transaction screening service integration, added hardware security module (HSM) options, an XRPL integration for tokenizing Real World Assets (RWA), pre-configured policy frameworks, and improvements to the platform’s usability and user interface.

Ripple Custody delivers the foundational capability for customers to build and scale new business models in the digital asset economy by providing mission-critical software infrastructure to secure, transfer and settle any type of tokenized financial asset.

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Custody is a key entry point into the digital asset economy, and it’s only growing. The amount of crypto assets custodied is expected to reach at least $16T by 2030, and moreover, 10% of the world’s GDP is expected to be tokenized by 2030. As such, companies need secure, compliant and flexible options to store their crypto.

“Ripple’s custody technology offers a single platform for safeguarding and managing digital assets, designed with the security and compliance standards that top global banks and financial institutions have come to rely on,” said Aaron Slettehaugh. “With new features, Ripple Custody is expanding its capabilities to better serve high-growth crypto and fintech businesses with secure and scalable digital asset custody.”

Ripple Custody now supports XRP Ledger tokenization features, enabling businesses to tokenize and manage a wide range of assets, including cryptocurrencies, fiat currencies, and real-world assets while facilitating digital asset issuance and secure transfers directly from its platform. This integration also provides seamless access to the XRPL’s native decentralized exchange (DEX) for efficient, low-fee trading of any tokenized asset.

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New features and functionality include:

• AWS CloudHSM – Ripple Custody is simplifying onboarding and deployment experience by providing customers the optionality to use HSM on a cloud provider of their choice.
• Pre-configured operational and policy frameworks – Deploy pre-configured Ripple Custody operational and policy frameworks with added features to simplify selecting, deploying, maintaining, and using the Ripple Custody platform.
• XRPL Integration – Allows for the integration of fungible XRPL tokens, creating new opportunities for asset digital representation and unlocking liquidity. With support for the native DEX on XRPL, companies can seamlessly trade assets with minimal fees.
• Compliance integrations – New integration with Elliptic for transaction screening services to help customers monitor transactions in real-time, better assess risks, and make decisions based on defined risk policies to meet regulatory requirements and build trust. Ripple will support additional compliance services in the future.
• Improved UI and Usability – Offering an updated and more intuitive UI to improve usability. Integrations with external identity providers, allow users to log in via their preferred OAuth or OIDC-based systems, providing greater flexibility and convenience for enterprise customers.

Ripple Custody is seeing continued momentum with 250% year-over-year new customer growth. Its solution is offered across the largest global financial markets including Switzerland, Germany, France, the United Kingdom, the United States, Singapore and Hong Kong. Today, Ripple Custody serves top-tier banks, financial institutions and crypto businesses around the world including BBVA Switzerland, Societe Generale – FORGE, DBS, RULEMATCH, Archax, Futureverse and more.

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With its simple, secure, compliant digital asset infrastructure, Ripple is well-positioned to provide the core services that financial institutions need to tokenize, store, exchange and move digital assets. Ripple serves customers in over 55 countries and on six continents, with payout capabilities in 80+ markets. It has over a decade of experience as a regulated business in the digital asset space and holds 55+ regulatory licenses and registrations in various jurisdictions.

New compliance integrations will be available in December 2024 to select customers, with general availability in early 2025. Pre-configured policies will be available early next year.