Ripple launches crypto storage services for banks in bid to diversify
Powered by @unfolded- Ripple has launched a new division, Ripple Custody, offering services for banks and fintech firms to store digital assets securely.
- The new features include integration with Ripple's XRP Ledger, anti-money laundering monitoring, and user-friendly interfaces, as Ripple aims to diversify from its primary payment settlement business.
- The crypto custody market is rapidly growing, with Ripple Custody experiencing over 250% customer growth year-over-year and servicing notable clients like HSBC and Societe Generale.
- Ripple's expansion into custody comes amid ongoing legal challenges related to the classification of its XRP token by the SEC.