#Ripple Expands Custody Services Amid Blockchain Integration into Traditional Finance

Ripple has announced an expansion of its custody services, aimed at providing bank-grade tools to fintech and crypto-native businesses. The announcement comes shortly after Swift revealed plans to support regulated digital assets in its global payment services, sparking speculation about potential blockchain integration.

Ripple has implemented several new features to meet growing demands in the digital asset economy. Among these are integration with the XRP Ledger (XRPL) for tokenizing real-world assets, new hardware security module (HSM) options, pre-configured policy frameworks, and improved user interface and usability.

One key addition is XRPL integration, enabling businesses to tokenize and manage a range of assets, including cryptocurrencies, fiat currencies, and real-world assets. This integration also provides access to XRPL’s native decentralized exchange (DEX), facilitating efficient trading of tokenized assets.

To enhance compliance measures, Ripple has partnered with Elliptic to integrate transaction screening services, allowing customers to monitor transactions in real-time, assess risks, and make decisions based on defined risk policies to meet regulatory requirements.

This expansion comes as Ripple Custody reports a 250% year-over-year increase in new customers, serving top-tier banks, financial institutions, and crypto businesses across major global markets. Ripple is now positioning itself to capitalize on the growing custody market, expected to reach at least $16 trillion by 2030