In a strategic effort to enhance its standing within the digital asset infrastructure sector, Ripple has revealed a substantial expansion of its custody services. This initiative underscores the company’s commitment to providing robust solutions in an increasingly competitive market.
Stay in the know on crypto by frequently visiting Crypto News Today
On Wednesday, the San Francisco-based blockchain firm introduced a range of new functionalities for Ripple Custody. These enhancements are designed to equip fintech and cryptocurrency-focused enterprises with tools that meet bank-grade standards, thereby elevating the security and efficiency of their operations.
CryptoCaster Quick Check:
This announcement follows closely on the heels of Swift’s recent declaration regarding its intention to incorporate regulated digital assets into its global payment services. Although Swift did not explicitly reference XRP, the news has sparked discussions about potential digital assets that may be included, further emphasizing the growing convergence of blockchain technology with traditional financial systems.
Aaron Slettehaugh, Senior Vice President of Product at Ripple, highlighted the platform’s commitment to security and compliance in a recent announcement. He stated that Ripple’s custody technology provides a comprehensive solution for the protection and management of digital assets, meticulously crafted to adhere to the security and compliance requirements that leading global banks and financial institutions depend upon.
The upgraded Ripple Custody now features several important enhancements aimed at addressing the increasing needs of the digital asset market. Key additions include integration with the XRP Ledger (XRPL) for the tokenization of real-world assets, new options for hardware security modules (HSM), pre-configured policy frameworks, and an enhanced user interface that improves overall usability.
One of the notable enhancements is the integration of XRPL, which allows enterprises to tokenize and oversee a diverse array of assets, such as cryptocurrencies, fiat currencies, and tangible assets. This functionality also grants access to XRPL’s inherent decentralized exchange (DEX), promoting effective trading of tokenized assets with minimal fees.
To bolster its compliance framework, Ripple has announced a collaboration with Elliptic to incorporate transaction screening services. This partnership is designed to assist clients in monitoring transactions in real time, evaluating risks, and making informed decisions in accordance with established risk policies to fulfill regulatory obligations.
At the same time, this expansion coincides with a period of remarkable growth for Ripple Custody, which has reported a 250% increase in new customers year-over-year. Ripple Custody now caters to prestigious banks, financial institutions, and cryptocurrency enterprises across key global financial markets, including Switzerland, Germany, France, the United Kingdom, the United States, Singapore, and Hong Kong.
The upgraded Ripple Custody has introduced several significant features aimed at addressing the increasing requirements of the digital asset economy. These enhancements include integration with the XRP Ledger (XRPL) for the tokenization of real-world assets, the addition of new hardware security module (HSM) options, the implementation of pre-configured policy frameworks, and advancements in user interface and overall usability.
If this article brought you clarity, insight, or value—support the work that made it possible.
At CryptoCaster, we report on Web3, crypto markets, and institutional finance with no billionaire owners, no shareholders, and no hidden agenda. While mainstream media bends toward Elon Musk, BlackRock, and JPMorgan narratives, we stay focused on what matters: truth, transparency, and the public interest.
We don’t just cover the headlines—we investigate the power structures behind them. From FTX and Ripple to the quiet push for CBDCs, we bring fearless reporting that isn’t filtered by corporate interests.
CryptoCaster is 100% paywall-free. Always has been. To keep it that way, we depend on readers like you.
If you believe independent crypto journalism matters, please contribute—starting at just $1 in Bitcoin or Ether. Wallet addresses are below.
Your support keeps us free, bold, and accountable to no one but you.
Thank you,
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
CRYPTOCASTER HEATMAP
