Ripple also introduced new security, compliance, and staking capabilities into its institutional custody product, catering to regulated financial institutions. This further solidifies Ripple Custody’s position as one of the best digital custody options in the industry. It has robust enterprise capabilities as well as drives adoption for banks/custodians around the globe.
Ripple has partnered with Securosys and Figment to help simplify procurement and expedite scalability in custody. The partnerships come on the back of Ripple’s previously announced partnership with Chainalysis and acquisition of Palisade.
Enhanced Security Options
Ripple Custody also offers CyberVault HSM and CloudHSM, provided by Securosys, enabling high-security hardware security modules. These tools let institutions deploy custody without cost-intensive or complex procurement delays. Ripple offers these security options both on premises and in the cloud to meet customer needs. These modules give banks and custodians direct control of cryptographic keys with high protection.
“Institutions require absolute confidence in how cryptographic keys are secured and managed,” said Robert Rogenmoser, CEO of Securosys. “By integrating our CyberVault HSM with Ripple Custody, institutions gain an out-of-the-box, enterprise-grade solution that can be deployed quickly, without added complexity, while retaining full control over their cryptographic keys.”
Staking for Institutions
Ripple and Figment now offer staking capabilities within custody workflows for regulated enterprises. This service lets banks and custodians offer staking rewards on Proof-of-Stake networks without building validator infrastructure.
“Ripple Custody’s partnership with Figment brings secure, institutional staking to the largest banks and enterprises,” said Ben Spiegelman, VP – Head of Partnerships & Corporate Development at Figment. “By combining Ripple’s enterprise‑grade custody technology with Figment’s secure, non‑custodial staking platform, we’re giving regulated institutions a way to offer staking rewards to their customers on several blockchain networks.”
To explore how Security Operations Centers (SOC) play a crucial role in defending against modern cyber threats, read our latest SOC News.
Source: Businesswire
