TL;DR

Ripple updates its Custody service with security and compliance improvements for crypto and fintech companies.
The integration with XRP Ledger allows tokenizing real-world assets and accessing the XRPL DEX.
Ripple Custody has grown 250% in clients, with availability in key markets like the U.S. and Switzerland.

Ripple has announced an update to its Custody service, designed to provide secure digital asset custody solutions for fintech and crypto companies.

The new version includes significant improvements in security and compliance, consolidating its position as one of the most comprehensive providers of digital asset infrastructure. The service now incorporates bank-grade security, a critical functionality in a sector facing tough regulatory and trust challenges.

We’re launching new features for Ripple Custody, bringing bank-grade custody solutions to fintech and crypto businesses.

Simplified onboarding
#XRPL tokenization & DEX support
Pre-configured policy frameworks
R/T compliance monitoring
New UIhttps://t.co/gejagnouTS

— Ripple (@Ripple) October 10, 2024

Among the most relevant features of the update is the integration of compliance tools. Ripple has added a real-time transaction monitoring system, developed in collaboration with the company Elliptic. This feature allows clients to assess risks more effectively and meet regulatory standards, improving transparency and trust in operations. Additionally, hardware security modules (HSM) have been incorporated on cloud platforms, facilitating the secure management and implementation of digital assets.

Ripple Enables RWA Tokenization

Another key aspect of the update is the integration with the XRP Ledger (XRPL), which now enables the tokenization of real-world assets. This adds new options for the management and issuance of both digital and fiat assets directly from the Ripple Custody platform. Moreover, users can access the native decentralized exchange (DEX) of XRPL, offering low-fee trading options, creating new opportunities for expanding businesses.

Ripple Custody has seen rapid growth in recent months, with a 250% increase in its client base, demonstrating the growing demand for custody solutions compliant with international regulations.

Where Is the Service Available?

Among the key markets where the service is available are the United States, Switzerland, Germany, and Singapore. Clients include BBVA Switzerland and DBS. This expansion reflects the interest in solutions that combine security and scalability in a global context where financial digitalization is advancing rapidly.

The new compliance tools, along with pre-configured policy frameworks, are expected to be available starting in December 2024 for select clients, with a broader release planned for early 2025

---

Filed under: News - @ October 11, 2024 2:29 pm