Ripple is entering the custodian space, unveiling a range of new services to assist financial institutions in managing crypto for their clients.

According to a recent report, the San Francisco-based blockchain firm aims to position its newly formed Ripple Custody division as a key player in the growing crypto custody market. The new offerings reportedly include pre-configured operational and policy settings, integration with Ripple’s XRP Ledger platform, and tools for monitoring anti-money laundering risks to ensure regulatory compliance.

In a bid to enhance its custody capabilities, Ripple acquired crypto custodian Metaco in 2023 and Standard Custody & Trust Company earlier this year. The company is now operational in seven countries and serves clients such as HSBC, Société Générale, and DBS.

New Services and Offerings

Ripple plans to enable customers to tokenize real-world assets through its XRP Ledger. Additionally, the company is looking to launch its stablecoin, RLUSD, for cross-border payments, although a specific timeline for this remains uncertain.

Expanding in Latin America

The company behind XRP is expanding its services in Latin America, with its payments solution now available in Brazil. This follows a partnership with crypto exchange Mercado Bitcoin. Under this agreement, Mercado Bitcoin will be the first platform to utilize Ripple Payments for cross-border payment options. Consequently, Brazil becomes the first country in Latin America to benefit from Ripple’s end-to-end solution.

“Ripple is committed to providing innovative solutions that meet regulatory compliance and enhance financial institutions’ capabilities in managing crypto assets.”

Stay updated with more news on Global Crypto News to keep pace with the latest developments in the cryptocurrency world.

#AI #CryptoSecurity

Post Views: 5