With the strengthening of Ripple’s custody services, major banks are expected to adopt XRP as the $16 trillion market expands. Ripple’s strong compliance and security standards, along with key partnerships, pave the way for widespread integration of XRP in the tokenized economy.
As CNF recently reported, Ripple has strengthened its presence in Asia with a major payments license from Singapore’s financial regulator after expanding as Taiwan prepares for its 2025 crypto custodian trial. . Ripple has taken a strategic step in the digital asset space by enhancing its custody services with new bank-grade features.
These recently announced updates aim to provide a secure and compliant platform for fintech and crypto-native companies. Ripple’s custody technology is integrated with the XRP Ledger (XRPL), enabling the tokenization of real-world assets and facilitating low-fee trading on XRPL’s decentralized exchange (DEX).
Team Ripple highlighted in a recent press release, stating:
“Custody is a key entry point into the digital asset economy and is only growing. The amount of crypto assets in custody is expected to reach at least $16 trillion by 2030; It is expected that 10% of global GDP will be tokenized in 2020, so businesses need secure, compliant and flexible options to store their crypto assets.”
Additionally, Ripple has introduced Hardware Security Module (HSM) options and preconfigured policy frameworks to meet the growing demands of the digital asset economy.
This expansion coincides with increased integration of blockchain into traditional finance, following a significant announcement by Swift that sparked a debate on the inclusion of digital assets in global payments. Although Swift did not mention XRP directly, Ripple’s recent developments mean that Ripple will benefit from this broader trend.
Increase market adoption and regulatory compliance
Ripple’s storage service has already garnered a lot of attention, with a reported 250% year-over-year increase in new customers. The platform currently serves leading financial institutions and cryptocurrency businesses in key markets including the US, UK, and Singapore.
Aaron Threathoe, Ripple’s senior vice president of products, said in the announcement, highlighting the platform’s security and compliance standards.
“Ripple’s custody technology provides a single platform to protect and manage digital assets and is designed with security and compliance standards trusted by the world’s top banks and financial institutions.”
To further strengthen regulatory compliance, Ripple has partnered with Elliptic to provide transaction screening services that enable real-time monitoring and risk assessment.
Ripple CEO Monica Long highlighted the company’s enterprise-grade capabilities, highlighting its partnerships with major banks such as DBS, SocGen-FORGE, and BBVA. The global custody market is expected to reach $16 trillion by 2030, and Ripple’s enhanced services are poised to provide the secure and flexible solutions needed for the rapidly expanding tokenized economy. Masu.
At the time of writing, Ripple (XRP) is trading at $0.5372, up 0.10% over the past day and down 0.83% over the past week.
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