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Ripple Launches Enhanced Custody Platform, Targets $16 Trillion Market with 250% User Growth

Oct 10, 2024, 07:19 PM

Ripple has launched new features for its Ripple Custody platform, providing bank-grade digital asset custody solutions for banks and fintech companies. The updated platform consolidates Ripple's custody products under the Ripple Custody brand and integrates with Ripple's blockchain, targeting a $16 trillion market. The enhancements include simplified onboarding, XRPL tokenization and decentralized exchange support, pre-configured operational and policy frameworks, real-time compliance monitoring via Elliptic, transaction screening, additional hardware security module (HSM) options, and a new user interface. Ripple's custody technology, strengthened by its acquisitions of Metaco and Standard Custody, is used by major banks such as DBS, SocGen – FORGE, and BBVA. Brad Garlinghouse, CEO of Ripple, stated, 'Whether you're a big bank or a nimble fintech—to offer crypto services to your customers, you need top-tier custody technology. And for that, Ripple Custody delivers.' With a 250% spike in new users, Ripple strengthens its position as a leader in digital asset security.