Ripple was among the latest blockchain companies to sign a strategic partnership to build more custody and tokenized asset management solutions for Asian institutional participants. Blockchain enterprise solutions provider Ripple has partnered with digital asset infrastructure company SettleMint to offer financial institutions solutions for custody, issuance and management of tokenized assets across their full lifecycle. The strategic partnership will integrate Ripple’s institutional digital asset custody infrastructure, Ripple Custody, and SettleMint’s Digital Asset Lifecycle Platform (DALP) to offer institutions a less complex way to secure digital assets, Ripple announced on Tuesday. A day earlier, digital asset service provider Coincheck Group partnered with wallet infrastructure provider DFNS to build digital asset wallet technology and custody services in Japan. Read more
Asia’s biggest crypto hubs are locked in a tax-cut arms race, while Ripple will help Korea’s Jeonbuk Bank move money across borders. KOREA South Korea’s Jeonbuk Bank has partnered with blockchain payments company Ripple to deploy its cross-border payment system for business customers. The service targets businesses including import-export companies, technology startups and online content creators. Read more
Ripple said the $275 million raised will support its expansion into traditional financial services such as prime brokerage and multi-asset clearing, citing strong demand from institutions. Ripple raised $275 million in a senior note offering that closed on Tuesday to support blockchain enterprise solutions provider’s ongoing US business expansion into financial services. The senior unsecured notes were issued in a private placement by the company’s non-bank prime brokerage, Ripple Prime, the company announced on Tuesday. Ripple said the note offering attracted a diverse base of institutional investors from financial markets. Ripple Prime President Noel Kimmel said that the support received during the note offering is a signal of “confidence in our long-term vision for the growing intersection of traditional and digital asset financial infrastructure.” Read more
Ripple is bringing its cross-border payments platform to Jeonbuk Bank, but key details including its launch status and settlement asset remain undisclosed. South Korea’s Jeonbuk Bank has partnered with blockchain payments company Ripple to deploy its cross-border payment system for business customers. On Tuesday, Ripple said its Ripple Payments platform would let the bank’s customers settle overseas transfers in seconds to minutes, with operations around the clock. The service targets businesses including import-export companies, technology startups and online content creators. Ripple said its system would provide the bank with faster, less expensive remittance capabilities than conventional transfers routed through intermediary banks via the SWIFT messaging network, which can take several days. Read more