Custody launches new features to support fintech and crypto-native businesses
The company is bringing bank-grade custody technology to the world. The update includes the integration of transaction screening services and the addition of a Hardware Security Module (HSM) option.
, integration of XRPL for real asset (RWA) tokenization, a pre-configured policy framework, and usability and user interface improvements.
Ripple Custody provides mission-critical software infrastructure to safeguard, transfer and transact tokenized financial assets of all kinds.
We help our clients build and scale new business models in the digital asset space. Custody is a key entry point into the growing digital asset space.
The expected size of crypto assets under management by 2020 is at least $16 trillion (approximately 2380 trillion yen), and it is expected that 10% of the world's GDP will be tokenized.
“As a result, businesses are increasingly demanding flexible crypto storage options,” said Aaron, senior vice president of product at Ripple.
"Ripple's custody technology provides a single platform for safeguarding and managing digital assets while also enabling the world's leading banks to
"The new features will provide a secure, scalable and secure platform for the high-growth cryptocurrency and fintech industry," he said.
"This transaction expands Ripple Custody's capabilities to provide comprehensive digital asset custody services," he said.
Custody's support for XRP Ledger tokenization allows businesses to tokenize and manage a range of assets, including cryptocurrencies, fiat currencies, and real assets.
This integration will allow seamless access to XRPL’s native decentralized exchange (DEX).
The new update will provide a secure and efficient exchange for all tokenized assets with low fees.
AWS Cloud HSM: Onboarding by making HSMs available to customers with their preferred cloud service provider
Pre-configured operational and policy framework: Simplifies the selection, deployment, maintenance, and use of the Ripple Custody platform.
Uses a pre-configured operational and policy framework with additional functionality to scale. XRPL Integration: Integrates fungible XRPL tokens to digitally replicate and circulate assets.
Additionally, a native DEX supported by XRPL will enable businesses to seamlessly trade assets with minimal fees.
Compliance Integration: Helps customers monitor transactions in real time, assess risk, meet regulatory requirements and build trust
Ripple has integrated with Elliptic, a transaction screening service, to enable the company to make decisions based on risk management policies for its transactions. Ripple will be adding additional compliance tools in the future.
The company is well positioned to provide payment services to clients in over 80 markets across 55 countries on six continents, and is the #1 regulated operator in the digital asset space.
With over 10 years of experience and over 55 regulatory licenses and registrations in various jurisdictions, the new compliance integration capabilities will be available to select clients in December 2024 and to all clients in early 2025.
Pre-configured policies are expected to be available early next year, with the upcoming release scheduled for launch on Salesforce.com.
2024/10/11 17:01 KST
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