The firm's custody services reported over 250% growth and aim to compete with custodians like Coinbase and Fireblocks.
The custody market is projected to reach $16 trillion by 2030, highlighting growth in digital assets.
Ripple announced the launch of new crypto custody services
on Thursday (today). These services are designed to assist banks and financial
technology firms in storing digital assets for their clients.
The introduction of these features comes as part of Ripple’s
expansion into custody services through its newly established division, Ripple
Custody.
Ripple's new offerings include pre-configured operational and policy
settings, integration with the XRP Ledger blockchain, anti-money laundering
risk monitoring, and an improved user interface.
This initiative marks a shift for Ripple, which has
primarily focused on its payment settlement business and the XRP
cryptocurrency.
“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,” Aaron Slettehaugh, Senior Vice President
of Product at Ripple, said in a statement shared with CNBC.
Custody Market Sees Rapid Growth
The custody market is growing quickly, with Ripple now
entering a competitive field that includes established firms like Coinbase,
Gemini, and Fireblocks.
Custodians play a crucial role in the cryptocurrency
ecosystem, safeguarding private keys needed for accessing digital assets. They
also facilitate payments, trading, and ensure compliance with regulatory
requirements.
Ripple claims that custody is one of its fastest-growing
sectors, with Ripple Custody reporting over 250% customer growth year-over-year
and operations in seven countries. Major clients include HSBC and DBS Bank.
Additionally, Ripple plans to enable clients to tokenize real-world assets,
such as currencies and commodities, on its XRP Ledger.
Last year, Ripple acquired Metaco, a firm specializing in
crypto storage solutions, and Standard Custody & Trust Company, to enhance
its custody offerings.
Ripple announced the launch of new crypto custody services
on Thursday (today). These services are designed to assist banks and financial
technology firms in storing digital assets for their clients.
The introduction of these features comes as part of Ripple’s
expansion into custody services through its newly established division, Ripple
Custody.
Ripple's new offerings include pre-configured operational and policy
settings, integration with the XRP Ledger blockchain, anti-money laundering
risk monitoring, and an improved user interface.
This initiative marks a shift for Ripple, which has
primarily focused on its payment settlement business and the XRP
cryptocurrency.
“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,” Aaron Slettehaugh, Senior Vice President
of Product at Ripple, said in a statement shared with CNBC.
Custody Market Sees Rapid Growth
The custody market is growing quickly, with Ripple now
entering a competitive field that includes established firms like Coinbase,
Gemini, and Fireblocks.
Custodians play a crucial role in the cryptocurrency
ecosystem, safeguarding private keys needed for accessing digital assets. They
also facilitate payments, trading, and ensure compliance with regulatory
requirements.
Ripple claims that custody is one of its fastest-growing
sectors, with Ripple Custody reporting over 250% customer growth year-over-year
and operations in seven countries. Major clients include HSBC and DBS Bank.
Additionally, Ripple plans to enable clients to tokenize real-world assets,
such as currencies and commodities, on its XRP Ledger.
Last year, Ripple acquired Metaco, a firm specializing in
crypto storage solutions, and Standard Custody & Trust Company, to enhance
its custody offerings.
Bybit Partners with Nordic Blockchain Association to Promote Web 3 Innovation
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
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Don't miss out on our latest videos, interviews, and event coverage.
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Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
🎬 Watch, share, and join the conversation!
Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.
Stay tuned for more events. See you next time!
📣 Stay updated with the latest in finance and trading!
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