Ripple Renews Custody Partnership with Garanti BBVA, Strengthening Turkish Market Presence
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Coinmarketcap
- Partnership Renewal: Ripple has renewed its custody partnership with Garanti BBVA Kripto, ensuring the secure management of XRP, Bitcoin, and Ethereum for retail and institutional clients, thereby solidifying Ripple's market position in Turkey.
- Infrastructure Upgrade: The new agreement integrates Ripple Custody with IBM technology, utilizing advanced encryption and Hardware Security Modules (HSMs) to provide bank-grade asset protection, enhancing compliance and security for digital assets.
- Strong Market Demand: Turkey has emerged as a critical market for crypto adoption due to persistent inflation and currency volatility, with Ripple's technology supporting the banking system's compliant integration, reinforcing XRP's status as an institutionally supported asset.
- Strategic Expansion Plan: This partnership is part of Ripple's broader strategy to become a global custody and banking infrastructure provider, having already deployed similar frameworks with BBVA entities in Spain and Switzerland, facilitating its comprehensive positioning in the digital asset space.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
