Future

Standard

Fortress

One of the major contributors to the advancement of blockchain in cross-border payments, Ripple has extended its belief to expand its newly formed custody division towards the growing custody market.&nbsp;
Under this expansion, Ripple intends to offer features such as pre-configured operational and policy settings, streamlining implementation, and reducing setup complexity.&nbsp;
Additionally, seamless integration with Ripple’s XRP Ledger platform boosts transaction efficiency and speed. To ensure regulatory compliance, advanced anti-money laundering (AML) monitoring tools are also available, enabling institutions to effectively mitigate risks.
Ripple began its expansion with the acquisition of Metaco a crypto custodian in 2023 for $230million followed by the Acquisition of Standard Custody and Trust Company in 2024. With back-to-back expansion, it is now serving leading banks such as DBS &amp; HSBC and others with its operations in seven nations worldwide.&nbsp;
Earlier in 2023, Ripple acquired Fortress Blockchain Technologies and SimpleHoney in April 2013, as per Crunchbase. It also holds investments in 37 companies and is a lead investor in 11 firms.&nbsp; Other Ripple-Related News&nbsp; 
Ripple announced on October 1, 2024, that it had received in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its services in the United Arab Emirates (UAE); enabling Ripple to offer its cross-border payment in the UAE.&nbsp;
On October 3, <a href="https://news.todayq.com/digital-asset-investment-opportunities-expand-in-thailand-how/" target="_blank" rel="noopener noreferrer nofollow">Ripple </a>announced it had collaborated with Mercado Bitcoin exchange to expand its dominance over the global payments network.&nbsp;
The alliance aims to foster cross-border payments based on blockchain technology mainly in Brazil helping the business to make payment processing faster, more efficient, and cost-effective.&nbsp;
On October 08 in Juniper Research’s 2024 Future Digital Awards for Fintech &amp; Payments Ripple was named a Platinum Winner for Best Cross-Border Payments Platform.&nbsp;
The information was posted by X account of Ripple quoting “We’re pleased to announce that Ripple has been named a Platinum Winner in Best Cross-Border Payments Platform by @juniperresearch’s Future Digital Awards for Fintech &amp; Payments 2024!” After the firm received awards market spectators praised the achievements terming the company to have high potential and establishing milestones in cross-border payments.&nbsp; 
Furthermore, Ripple is planning to launch its own <a href="https://news.todayq.com/roughly-50-of-traditional-hedge-funds-now-invest-in-crypto-report/" target="_blank" rel="noopener noreferrer nofollow">stablecoin </a>in the coming time; however, the exact date of the launch is not clarified yet.
While discussing with media personnel, Monica Long, the president of Ripple, asserted that “ The stablecoin ‘RLUSD’ will debut in the market by the end of this year; the regulatory clearance is awaited.”
She further clarified that the stablecoin launch will not harm the market share/position of XRP in payments in any context.&nbsp;&nbsp; XRP Price Updates&nbsp;&nbsp; 
As of writing, XRP was trading at $0.5351 surging 3.89% in the past seven days; although in the past 30 days, it highest traded at $0.6622 and its trading price was $0.5101 with an average trading volume of $1.04 billion with an surge of 20%.&nbsp;
The nearest visible resistance of XRP is $0.6550 followed by the next resistance of $0.6933 and its initial support is $0.5310 followed by $0.4927. From the maximum supply of 99.99B XRP, roughly 56.65B XRP are in circulation which means 57 percent.
XRP has a market capitalization of $30.39B making it the seventh most significant among all cryptocurrencies and 7th in trading volume also.&nbsp;

Ripple Unveils Advanced AML Monitoring for Regulatory Compliance

Todayq News

Other articles published on Oct 10, 2024

Gotbit’s $42m manipulation case could strengthen crypto market resilience: Santiment

Thailand SEC Proposes Crypto Investments for Mutual and Private Fund

Uniswap Price Prediction: Can UNI Price Slingshot To $15 In Q4?

Will AAVE Surge to above the $200 level After the v3.2 Upgrade?

Musk’s robotaxi reveal could be make-or-break moment for Tesla

Toncoin’s Price Pullback: A Buying Opportunity or Further Decline?

Join our free newsletter for daily crypto updates!