Ripple, a U.S. crypto solutions provider, has announced new features under its newly formed custodial services division, marking a strategic expansion beyond its core settlements business. These features include pre-configured operational and policy settings, integration with Ripple’s XRP Ledger blockchain platform, anti-money laundering risk monitoring, and a new user-friendly interface.

This move comes in response to the growing demand for crypto custody solutions, with Ripple reporting a 250% year-over-year growth and expanding to seven countries. The company’s global clients include HSBC, BBVA’s Swiss arm, Societe Generale, and DBS.

The announcement follows Ripple's $250 million acquisition of crypto custody infrastructure provider Metaco last year. The custodial services market is projected to reach $16 trillion by 2030, driven by mainstream companies launching tokenization products for real-world assets.

Aaron Slettehaugh, Ripple’s senior vice president of product, stated that the new features aim to better serve high-growth crypto and fintech businesses with secure and scalable digital asset custody. Additionally, banks and fintechs integrating Ripple’s XRP Ledger will gain access to its decentralized exchange, enabling faster and low-fee trading experiences.