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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 CNBC <a href="http://www.cnbc.com/2024/10/10/ripple-launches-crypto-storage-services-for-banks-in-bid-to-diversify.html" target="_blank" rel="noopener noreferrer nofollow">report</a> on Oct. 10, the San Francisco-based blockchain firm wants to position its recently formed Ripple Custody division as a new player in the growing <a href="https://crypto.news/tag/crypto-custody/" target="_blank" rel="noopener noreferrer nofollow">crypto custody</a> market.
The new offerings reportedly include pre-configured operational and policy settings, integration with Ripple’s <a href="https://crypto.news/tag/ripplenet/" target="_blank" rel="noopener noreferrer nofollow">XRP Ledger</a> platform, and tools for monitoring anti-money laundering risks to ensure regulatory compliance.
In a bid to enhance its custody capabilities, Ripple <a href="https://crypto.news/ripple-buys-controlling-interest-in-metaco-a-digital-technology-company/" target="_blank" rel="noopener noreferrer nofollow">acquired</a> crypto custodian Metaco in 2023 and Standard Custody &amp; Trust Company <a href="https://crypto.news/ripple-acquires-standard-custody-trust-co-to-broaden-us-crypto-services/" target="_blank" rel="noopener noreferrer nofollow">earlier</a> this year. The company is now operational in seven countries and serves clients such as HSBC, Société Générale, and DBS.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/ripple-to-fight-secs-appeal-over-xrps-non-security-status/"> Ripple to fight SEC’s appeal over XRP’s non-security status </a>
Ripple also plans to enable customers to tokenize real-world assets through its XRP Ledger and is looking to launch its stablecoin, RLUSD, for cross-border payments, although a specific timeline for this remains uncertain.
Additionally, the company behind (<a href="https://crypto.news/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP</a>) is expanding its services in Latin America, with its payments solution now available in Brazil, following a <a href="https://crypto.news/ripple-partners-with-mercado-bitcoin-to-launch-payments-solution-in-brazil/" target="_blank" rel="noopener noreferrer nofollow">partnership</a> 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.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/crypto-liquidity-rises-as-ripple-gears-up-to-enter-the-stablecoin-market/"> Crypto liquidity rises as Ripple gears up to enter the stablecoin market </a>

Ripple debuts crypto custody solutions to support banks in managing crypto: report

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