Ripple Custody Service Promises Unmatched Security for Your Crypto Holdings

Key Points:

• Ripple introduces Ripple Custody, offering secure digital asset storage with fast, low-fee transactions powered by the XRP Ledger.
• Includes AML risk monitoring and a user-friendly interface, making it easier for institutions to manage cryptocurrencies and tokenize real-world assets.
• Ripple strengthens its custody services by acquiring Metaco and Standard Custody & Trust, boosting its foothold in the growing digital asset market.

Ripple announced Tuesday the launch of Ripple Custody, a service targeted at helping banks and fintech companies securely store digital assets.

Ripple Expands Into Crypto Custody Services

According to CNBC, this is one of Ripple’s significant expansions, in which the company extends its business beyond its core payment settlement platform, RippleNet. It is another attempt by the company to offer security and efficiency in managing and storing cryptocurrency in a regulated environment.

The new service features integrations with Ripple’s XRP Ledger blockchain platform, allowing users to extend the ledger’s power for fast and low-fee transactions. Ripple Custody incorporates AML risk monitoring, ensuring financial institutions using the service have high levels of security and compliance. It also features a highly intuitive interface that will make the platform accessible to institutional entrants.

Read more: Ripple Payment Solution Gets a Boost in Brazil With New Partnership

Strategic Acquisitions to Strengthen Custody Offering

Ripple Custody is not just for storing cryptocurrencies; customers can tokenize real-world assets as part of their service package. This opens up a whole new world of liquidity and flexibility in asset management, opening new and exciting doors to institutional investors and businesses alike. Combining such functionality with the XRP Ledger enhances the speed and cost-effectiveness of these transactions, making this one of the hottest solutions for companies wanting to optimize their digital asset management.

Ripple acquires two of the most well-established companies in this field: Metaco and Standard Custody & Trust. These acquisitions will strengthen Ripple’s custody services offering and further expand its footprint in the growing space of digital assets.