Ripple Bolsters Custody Solution With New Features to ‘Better Serve High-Growth Businesses’

Ripple, the digital asset infrastructure provider, has unveiled new features and functionality to Ripple Custody, its platform for safeguarding, managing and engaging with digital assets.

Ripple revealed that the latest update includes a transaction screening service integration, added hardware security module (HSM) options, an XRPL integration for tokenising Real World Assets (RWA), pre-configured policy frameworks, and improvements to the platform’s usability and user interface. Through these updates, it brings the benefits of its bank-grade custody technology to fintechs and crypto natives.

Ripple says that custody is a key entry point into the digital asset economy which continues to grow. The amount of crypto assets custodied is expected to reach at least $16trillion by 2030, while 10 per cent of the world’s GDP is expected to be tokenised by 2030. As such, companies need secure, compliant and flexible options to store their crypto.

Recognising that companies need secure, compliant and flexible options to store their crypto, Ripple Custody delivers the foundational capability for customers to build and scale new business models in the digital asset economy by providing mission-critical software infrastructure to secure, transfer and settle any type of tokenised financial asset.

“Ripple’s custody technology offers a single platform for safeguarding and managing digital assets, designed with the security and compliance standards that top global banks and financial institutions have come to rely on, ” explained Aaron Slettehaugh, SVP of product at Ripple. “With new features, Ripple Custody is expanding its capabilities to better serve high-growth crypto and fintech businesses with secure and scalable digital asset custody.”

A global solution

Ripple Custody now supports XRP Ledger tokenisation features, enabling businesses to tokenise and manage a wide range of assets, including cryptocurrencies, fiat currencies, and real-world assets, while facilitating digital asset issuance and secure transfers directly from its platform.

It says that the integration of fungible XRPL tokens will create new opportunities for asset digital representation and unlocking liquidity.

Ripple Custody also boasts pre-configured operational and policy frameworks with added features to simplify selecting, deploying, maintaining, and using the Ripple Custody platform.

New integration with Elliptic for for transaction screening services to help customers monitor transactions in real-time, better assess risks, and make decisions based on defined risk policies to meet regulatory requirements and build trust. Ripple plans to support additional compliance services in the future.

Ripple Custody is seeing continued momentum with 250 per cent year-over-year customer growth. The solution is available across the largest global financial markets including Switzerland, Germany, France, the United Kingdom, the United States, Singapore and Hong Kong.

New compliance integrations will be available in December 2024 to select customers, with general availability in early 2025. Ripple also revealed that pre-configured policies will be available early next year.