Garanti BBVA has announced the collaboration with Ripple Custody and IBM to offer a secure environment for its crypto trading platform. The bank offers services for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB, and SOL since 2023.
Summary
Ripple and IBM with Garanti BBVA: a secure infrastructure for the crypto trading platform
Ripple and IBM are collaborating with Garanti BBVA Kripto, the bank’s crypto trading platform that serves more than 14,000 users.
According to what is reported, it seems that the collaboration has given rise to a combined solution of Ripple Custody and IBM that has allowed the bank to build, implement, and manage a more secure infrastructure.
In fact, after a successful pilot project in 2023, the bank is now extending the service of its crypto platform to its entire customer base. Ripple Custody and IBM step in to provide the highest standards of performance, security, and customer trust.
Specifically, the infrastructure offers institutional-level key management with end-to-end security to protect private keys, applications, and data. Not only that, among the new integrated advanced security features are data encryption, customer environment isolation, and hardware security modules.
These latter are integrated with the highest security certification and a versatile governance framework that eliminates single points of compromise and helps mitigate risks associated with malicious actors.
Ripple and IBM at the service of the crypto platform of Garanti BBVA bank
The bank’s crypto platform, called Garanti BBVA Kripto, has been providing since 2023, services for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB, and SOL.
The expansion of this crypto platform came after the bank noticed how the demand for these services is continuously growing. In this regard, Korcan Abalı, CEO of Garanti BBVA Kripto, said:
“Our clients have recorded a strong increase in demand for digital assets. To respond to this demand, we launched our company Garanti BBVA Digital Assets in 2023 and currently provide services for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB, and SOL as Garanti BBVA Kripto. The number of clients who prefer to transfer and store their assets in cryptocurrency increases day by day. We will continue to grow by increasing our variety of assets and developing our service infrastructure. Our collaboration with Ripple and IBM gives us the certainty of having an institutional-level custody infrastructure and the security, solid governance, and compliant processes that result from it.”
Also Aaron Sears, SVP Global Customer & PartnerSuccess at Ripple, commented on the partnership:
“We are excited to collaborate with Garanti BBVA Kripto to support the development of the vibrant bull market of crypto assets in Turkey. Secure custody is essential to unlock the value and meet the growing demand for new classes of assets in the digital economy. We remain committed to supporting our clients worldwide to fuel the bear market of digital assets with our secure and compliant services.”
The price of XRP
While the crypto company Ripple extends its collaborations through its custody service, its crypto XRP seems unable to recover from the bear market of this particular “uptober”.
In fact, while October is almost at its close, the AI had predicted a bull trend for the price of XRP already for Halloween and for November, but at the moment no particular increase has occurred.
At the time of writing, XRP is worth $0.51, in a dump of 6% over the last seven days and 15% compared to a month ago.
