United States – Ripple, a company specializing in trading and storing cryptocurrencies and blockchain, reported yesterday that it has launched a set of features aimed at helping banks and financial technology companies store digital tokens.
This came in a statement issued by the company, as part of a broader campaign in the field of storing cryptocurrencies, and to open a new product capable of generating cash liquidity for the company.
Cryptocurrency custody, a type of service that helps customers keep their crypto assets, is an emerging business for Ripple, which has unified its efforts under a single brand called Ripple Custody.
Ripple is primarily known for its XRP cryptocurrency and RippleNet, an interbank payment settlement platform that partly deals in cryptocurrency trading.
The San Francisco-based company added that it will offer a set of features to enable its clients, banks and financial technology companies, to retain and maintain digital tokens.
Features include operational settings, AML risk monitoring to maintain compliance, and a new user interface that is easier to use and interact with.
The move will help Ripple, known primarily for its XRP cryptocurrency and its RippleNet platform, diversify its business beyond its core payment settlement business.
The company said that guarding and storing cryptocurrencies safely is one of the fastest growing areas for the startup company, as Ripple Custody recorded a growth in the number of customers by more than 250 percent on an annual basis this year, without providing numbers.
The value of cryptocurrencies stolen through hacking and network exploitation doubled to $1.38 billion in the first six months of the year, according to blockchain intelligence firm TRM.
Anatolia
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