Ripple announces the launch of its crypto custody service Ripple Custody

ChainCatcher news, Ripple has announced the launch of a crypto custody service aimed at helping banks and fintech companies store digital assets. These new features include integration with Ripple's XRP Ledger blockchain platform, anti-money laundering risk monitoring, and a user-friendly interface.

Ripple hopes to expand its business through this initiative, moving beyond its core payment settlement platform RippleNet. The company's Ripple Custody brand will provide services for tokenized real assets and allow for fast, low-fee transactions using the XRP Ledger. Ripple has also acquired Metaco and Standard Custody & Trust Company to further advance its custody business.