- Ripple has unveiled new features for its custody solution aimed at banks and fintech firms
- The company is positioning itself to capture growth in tokenization and real-world asset (RWA) markets
On October 10, blockchain firm Ripple introduced enhancements to its custody offering that deliver bank-grade digital asset custody tailored for banks and fintechs.
According to the company announcement, the Ripple Custody platform now incorporates bank-grade custody technology. Customers can tokenize a broad range of assets — including cryptocurrencies, fiat, and real-world assets — while benefiting from integration with Ripple’s XRP Ledger.
Key additions include transaction screening powered by an Elliptic integration and hardware-based security using Amazon Web Services’ (AWS) CloudHSM.
With these updates, Ripple Custody gives banks and financial technology companies the tools to build and scale digital asset services on a secure software foundation that enhances transfer and settlement protections.
“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, senior vice president of product at Ripple.
Ripple targets fast-growing crypto custody market
The move is intended to help Ripple expand into a global digital asset custody market that analysts expect could reach $16 trillion by 2030. The company is also aligning with broader tokenization trends, which project that roughly 10% of global GDP could be on-chain by 2030.
Ripple Custody is already serving major banks and financial institutions worldwide, with operations spanning the United States, Switzerland, Germany, France, the United Kingdom, Singapore, and Hong Kong. Institutions using Ripple Custody include DBS, BBVA Switzerland, Societe Generale–FORGE, and Archax.
In May 2023, Ripple acquired Swiss custody provider Metaco, a strategic step that strengthened its custody capabilities and expanded its institutional offering. Following that acquisition, Standard Chartered’s Zodia Custody integrated Metaco’s digital asset custody solution in December 2023.
Earlier this month, Ripple received in-principle approval to broaden its services in the United Arab Emirates, marking another step in its international expansion.