tl;dr
Turkish banking giant Garanti BBVA Kripto has partnered with Ripple Inc. and IBM to offer enhanced crypto trading and custodial services. This collaboration aims to bring high performance and security to the bank's crypto asset trading platform, benefiting from advanced security measures and a flexi...
Turkish bank Garanti BBVA has partnered with Ripple Inc. and IBM to expand its crypto services, aiming to provide enhanced security and institutional-grade management infrastructure. The collaboration will leverage advanced security measures and a flexible governance framework, reducing risks for customers.
Aaron Sears, SVP of Global Customer & Partner Success at Ripple, emphasized the importance of secure custody in meeting the growing demand for new asset classes despite ongoing legal challenges. Ripple plans to proceed with an IPO in the next 12 months.
Through the partnership, Garanti BBVA aims to bring high performance and security to its crypto asset trading platform, benefiting from advanced security measures and a flexible governance framework. The combined solution from Ripple Custody and IBM will enable the bank to deploy and manage an institutional-grade management infrastructure with end-to-end security.
By utilizing the combined technological solution, Garanti BBVA will benefit from advanced security measures, data encryption, isolation of customer environments, embedded Hardware Security Modules (HSMs) with top-tier security certifications, and a flexible governance framework. These features will work to reduce risks posed by malicious actors while offering a robust defense for customers.
Despite ongoing legal challenges, Ripple continues to provide innovative solutions, with plans for an IPO in the next 12 months.