Ripple declares launch of cryptocurrency storage services

16:30 - 10.10.2024


October 10, Fineko/abc.az. Ripple has announced the launch of cryptocurrency storage services, which are "designed to help banks and fintech companies store digital assets", CNBC reports with reference to company's statement.

The launch of new features is "part of a plan for broader advancement in the field of cryptocurrency storage within the newly created Ripple Custody division".

According to journalists, this step will help Ripple diversify its activities beyond the core business. The company added that Ripple Custody's clients include banks such as HSBC, the Swiss division of BBVA, Societe Generale and DBS.

Ripple will also allow its customers to tokenize real-world assets - fiat currencies, commodities such as gold and oil, or real estate - using the XRP Ledger.

Ripple said that integration with its XRP Ledger technology will provide companies with access to their own decentralized exchange.