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▲ Ripple, XRP Ledger, RLUSD/AI Generated Image
Ripple is further expanding its digital asset business targeting banks and institutional investors.
According to crypto media outlet CryptoPotato on September 1 (local time), Ripple has entered into a strategic partnership with blockchain company SettleMint. The core of the partnership is to connect Ripple's custody services with SettleMint's Digital Asset Lifecycle Platform (DALP). Financial institutions can handle the issuance, custody, and management of tokenized assets within a single system. The service has launched first in Asia and plans to expand to other regions in the future.
The new platform targets not only banks but also market infrastructure operators and government agencies. It combines asset custody and issuance with regulatory compliance, settlement, and post-management functions in one place. Fiona Murray, Ripple's Head of Asia Pacific, said, “Financial institutions in Asia Pacific are utilizing digital assets in their actual operations.” She added, “They are looking for ways to handle more tasks without having to connect custody, issuance, and management functions to different systems.”
The market Ripple is focusing on is the tokenization of Real World Assets (RWA). Boston Consulting Group (BCG) projected that the tokenized RWA market will grow to $88 trillion by 2035. Banks that fail to respond to this change could see their profits decrease by up to 30% during the same period. Ripple has proposed the stablecoin RLUSD and XRP as assets to support its digital asset solutions.
Ripple has consistently expanded its institutional digital asset infrastructure. It provides payment, custody, liquidity, and fund management services to banks and payment providers. The cumulative amount of mergers and acquisitions and corporate investments to secure crypto infrastructure is approximately $4 billion. It has collaborated with Securosys and Figment and has also adopted Chainalysis' regulatory compliance analysis features. It acquired wallet infrastructure company Palisade to secure multi-chain support capabilities.
SettleMint will be responsible for the management aspect after asset issuance. The company's Digital Asset Lifecycle Platform is used by banks, market operators, and government agencies in North America, Europe, the Middle East, and Asia Pacific. Adam Popat, CEO of SettleMint, stated, “Global capital markets are moving on-chain,” and “Digital asset custody and lifecycle management must operate as one system, not separate ones.” Ripple and SettleMint will begin expanding institutional tokenized asset infrastructure, starting with Asia.
[Key Article Summary]
-Ripple has partnered with SettleMint to launch an institutional service that handles the issuance, custody, and management of tokenized assets within a single system.
-Boston Consulting Group projected that the tokenized Real World Assets market will grow to $88 trillion by 2035.
-Ripple has invested approximately $4 billion to expand its institutional cryptocurrency infrastructure and has proposed RLUSD and XRP as key assets for its related solutions.
*Disclaimer: This article is for informational purposes only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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