Share this article
Ripple Expands Custody Business to Offer 'Bank-Grade' Service to Crypto Firms
The new features could allow companies to tokenize and manage real-world assets as well as other cryptocurrencies on XRPL.
Updated Oct 10, 2024, 2:29 p.m. Published Oct 10, 2024, 2:29 p.m.
- Ripple, a provider of digital asset infrastructure, has introduced new functionality to its custody service
- The company is associated with the XRP token, which rose as much as 3.75% Thursday, its biggest intraday gain in almost two weeks, Coindesk Indices data show.
Ripple, a provider of digital asset infrastructure, added functionality to its custody service to offer crypto businesses "bank-grade" technology for securing digital assets.
The new features include integration with the XRP Ledger, whose developers went on to help found Ripple, expanding liquidity through the provision of XRPL-based tokens and a native decentralized exchange (DEX), which could allow companies to tokenize and manage real-world assets (RWAs) as well as other cryptocurrencies on XRPL.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Ripple aims is to bring "the benefits of bank-grade custody technology to fintechs and crypto businesses," the company said Thursday. "The amount of crypto assets custodied is expected to reach at least $16T by 2030, and moreover, 10% of the world’s GDP is expected to be tokenized by 2030. As such, companies need secure, compliant and flexible options to store their crypto."
The company bought Switzerland-based crypto custody provider Metaco for $250 million last year. It agreed to buy Standard Custody & Trust Co. in February.
XRPL's native token, XRP, rose as much as 3.75% Thursday, its biggest intraday gain since Sept. 29, Coindesk Indices data show. The token subsequently pulled back, but remains over 1.8% higher since midnight UTC, comfortably outperforming the wider crypto market, which has gained just 0.2%, as measured by the CoinDesk 20 Index (CD20).
Read More: Ripple Partners With Brazilian Exchange Mercado Bitcoin to Offer Business-Focused Payments Solution
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
