Ripple Launches Custody Service to Compete in Growing Crypto Market

Ripple, based in San Francisco, has launched a crypto custody service for banks and fintech firms, coinciding with increased Federal Reserve scrutiny on traditional banks offering crypto custodial solutions.

This new service aims to help clients securely manage digital assets while ensuring compliance with regulatory standards.

By introducing Ripple Custody, the company seeks to compete with established players like Coinbase and Gemini in the rapidly growing crypto custody sector, which the Boston Consultancy Group projects could reach $16 trillion by 2030.

Ripple has already seen a 250% rise in consumer interest this year.

READ MORE:

WisdomTree Unveils Direct Spending from Tokenized Fund with Visa Card

Additionally, Ripple plans to expand its custody services to tokenize real-world assets, such as fiat, gold, oil, and real estate, leveraging its XRP Ledger for direct trading without intermediaries.

The firm has also strengthened its position through acquisitions, including Metaco and Standard Custody & Trust Company.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.