The post Ripple Launches Innovative Crypto Custody Solution with XRPL appeared on BitcoinEthereumNews.com.

Ripple is unveiling new features to position its custody service among industry giants like Coinbase and Gemini.  Ripple Custody is reported to be posting a growth of 250% this year from the previous year, thanks to clients like HSBC, Societe Generale, and DBS.  San Francisco-based company Ripple (XRP) recently announced the launch of its crypto custody solution to enable banks and financial technologies (Fintechs) to store digital assets for clients. According to the latest report, Ripple is introducing new features, including “pre-configured operational and policy settings” and a fresh user interface for seamless engagement. Coupled with that, the Ripple custody would be integrated into the XRP Ledger (XRPL) with a specific feature to monitor anti-money laundering risk.  Analyzing a CNBC report on this, we discovered that this initiative would enable Ripple to diversify beyond its usual payment settlement services. It is also important to note that Custody is one of the fastest-growing spaces within the digital asset industry. According to a report by Boston Consulting Group (BCG), the crypto custody market will reach $16 trillion by 2030.  Meanwhile, Ripple Custody is recording more than 250% customer growth year-over-year with the likes of HSBC, Societe Generale, and DBS as clients. Based on our research, the latest development is Ripple’s maiden move to consolidate its custody products under one brand. This implies that Ripple would be positioned among several heavyweight companies (Coinbase, Gemini, and Fireblocks) that provide similar services and products.  Custodians usually engage in several roles, including the safeguarding of users’ private keys required to access digital assets. Other reports also explain that the Ripple Custody services would go the extra mile to help with payments and settlements, trading, as well as the enhancement of regulatory compliance. Meanwhile, its XRPL integration would create the avenue to make its native decentralized exchange…

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Filed under: News - @ October 10, 2024 5:22 pm