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Ripple Senior Executive Officer and Managing Director, Middle East & Africa, Reece Merrick highlights game-changing potential as Ripple advances institutional custody adoption with security, compliance and staking capabilities.
In a major development, Ripple recently announced a series of strategic collaborations that aim to expand the capabilities of Ripple Custody.
As stated in a Feb. 9 release, Ripple has secured new partnerships with Securosys and Figment to simplify procurement and enable banks to deploy digital asset custody in a more efficient manner. The new partnerships follow a recently announced integration with Chainalysis and the acquisition of Palisade.
Massive potential revealed
Merrick highlights massive potential from the newly announced partnerships. The collaboration with Figment adds institutional staking for banks that can now offer staking rewards to clients while keeping full custody controls and compliance standards intact.
Ripple and Figment will allow banks, custodians and regulated enterprises to offer staking for leading proof-of-stake networks, including Ethereum and Solana.
The integration with Securosys brings CyberVault HSM and CloudHSM directly into Ripple Custody, allowing institutions to get high-security key management without the traditional procurement delays or complexity.
The collaborations are supported by an earlier integration of Chainalysis, which is embedded for real-time transaction screening and policy enforcement, allowing every move to be monitored before assets leave the vault.
Palisade, which was previously acquired by Ripple, adds scalable wallet-as-a-service with MPC and multichain support, which is perfect for treasury, payments and fintech integrations.
In separate news, Zand and Ripple are partnering to advance the digital asset ecosystem with solutions powered by the Zand AED (AEDZ) stablecoin and Ripple’s USD (RLUSD) stablecoin. This partnership is expected to unlock new use cases as traditional finance moves on-chain.
Tomiwabold Olajide
Caroline Amosun
Godfrey Benjamin
