According to TechFlow, on October 10, CNBC reported that Ripple announced the launch of crypto custody services and integrated its work under the Ripple Custody brand, aiming to help banks and fintech companies store and manage digital assets. This move marks Ripple's official entry into the crypto custody market to expand its business scope beyond the core payment settlement platform RippleNet.

Ripple Custody will offer a range of new features, including integration with the XRP Ledger blockchain platform, anti-money laundering risk monitoring, pre-configured operational and policy settings, and a user-friendly interface. These features are designed to help financial institutions more easily participate in digital asset management. Ripple Custody will also provide customers with services for tokenizing real-world assets, allowing fast, low-cost transactions using the XRP Ledger.