Ripple Custody Unveils New Features to Boost Growth

Ripple, the company behind XRP, has launched new features for its growing custody division, Ripple Custody. The move enhances its technology for both fintech and crypto clients, as Ripple aims to position itself in the $16 trillion digital asset custody market expected by 2030, driving Ripple Custody Growth.

New Features Powering Ripple’s Expansion

Ripple Custody, launched as a dedicated arm of the company, has introduced several upgrades to its platform. The updates include a new transaction screening service and more hardware security module (HSM) options. Ripple also added integration with the XRP Ledger (XRPL) to tokenize real-world assets (RWAs). Additionally, a revamped user interface aims to improve ease of use for institutions, contributing to Ripple Custody Growth.

Ripple’s focus on crypto custody aligns with industry trends as more financial institutions seek secure custody solutions for digital assets. By offering these new services, Ripple aims to serve banks and crypto companies increasingly relying on secure, scalable digital asset storage, further promoting Ripple Custody Growth.

Crypto Custody’s Growing Market

According to a study from Boston Consulting Group, the value of crypto assets held in custody could reach $16 trillion by 2030. As much as 10% of the global GDP could be tokenized in the coming years, with Ripple looking to take advantage of this shift through its custody services.

Ripple Custody has already seen a 250% increase in new customer acquisition year over year. This rapid Ripple Custody Growth reflects its successful strategy. It operates in key financial markets, including the U.S., Switzerland, Germany, Singapore, and Hong Kong, catering to major financial institutions such as BBVA Switzerland, Societe Generale—FORGE, DBS, and more.

Aaron Slettehaugh, Ripple’s SVP of Product, emphasized the growing importance of custody in the digital asset space:

“Ripple’s custody technology is designed with the security and compliance standards that leading financial institutions expect. The new features aim to expand our capabilities better to support the needs of high-growth crypto and fintech businesses.”

Also Read: Ripple Secures Approval For Dubai Expansion

Compliance and Upcoming Features

In addition to the new features already launched, Ripple is preparing to introduce further compliance integrations by December 2024 for a select group of customers, with a wider rollout planned for 2025. The company is also working on pre-configured policy frameworks that will be available early next year.

As more institutions turn to digital asset custody solutions, Ripple’s recent moves position it well to meet this growing demand. The firm competes with other financial giants like Standard Chartered, which recently launched digital asset custody services in the UAE.

A Competitive Edge in a Growing Sector

Ripple’s focus on improving its custody services reflects the broader industry trend of financial institutions entering the crypto custody space, reinforcing Ripple Custody Growth. For example, Taiwan’s Financial Supervisory Commission (FSC) plans to establish a sandbox for crypto custody services in early 2025, signaling growing interest in the sector.

Ripple Custody’s new offerings set the company apart. It aims to cater to the specific needs of institutions seeking secure storage and management of digital assets. With demand rising, Ripple is positioning itself at the forefront of a market poised for explosive growth.

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