Ripple Expands Custody Business to Offer 'Bank-Grade' Service to Crypto Firms
Summary
Ripple has enhanced its custody service to provide "bank-grade" security for digital assets, integrating with the XRP Ledger to expand liquidity through XRPL-based tokens and a decentralized exchange. This allows companies to tokenize and manage real-world assets and other cryptocurrencies on XRPL. Ripple aims to offer secure, compliant, and flexible storage solutions as the crypto asset custody market is projected to reach $16 trillion by 2030, with 10% of global GDP expected to be tokenized. Ripple acquired Metaco for $250 million and agreed to purchase Standard Custody & Trust Co. XRP saw a 3.75% intraday gain, outperforming the broader crypto market.
