“Ripple Launches Crypto Custody Services for Banks”

San Francisco-based fintech company, Ripple, is launching a suite of crypto storage services designed to help banks and financial technology businesses securely store and manage their digital assets. Ripple’s aim is to broaden its reach under its recently formed Ripple Custody subsidiary. This includes a series of features to allow banks and fintech clients to hold and maintain digital tokens. Ripple’s diversification into this sector is seen as a move to grow its business beyond its core payment settlement platform. The new custody services are being positioned as competitors to other firms like Coinbase, BitGo, Fireblocks and Gemini. The move by Ripple has prompted crypto watchers to speculate that the XRP token could rally to reach the $1 mark.

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