Ripple Labs, the blockchain-based payments company, has announced its acquisition of Standard Custody & Trust Co., a regulated digital asset custodian headquartered in New York. The move strengthens Ripple’s foothold in the institutional crypto market by enabling the company to offer qualified custody services for digital assets—something increasingly demanded by enterprise and banking partners.
Standard Custody, a subsidiary of PolySign, is licensed by the New York Department of Financial Services (NYDFS) and provides secure, compliant storage of digital assets, including cryptocurrencies, tokenized securities, and stablecoins. With this acquisition, Ripple gains access to institutional-grade custody infrastructure, regulatory frameworks, and a new revenue stream independent of XRP.
Brad Garlinghouse, CEO of Ripple, stated, “As the digital asset landscape matures, custody is the foundation on which the next phase of institutional adoption will be built.” He noted that the deal positions Ripple to serve as a full-stack infrastructure provider, from token issuance to custody to real-time settlement.
This comes amid growing regulatory scrutiny in the U.S. and an increasing demand for regulated custodians who can safeguard assets amid volatility and counterparty risk. Institutional clients—including asset managers, hedge funds, and banks—now view secure custody as a prerequisite for entering crypto markets.
Ripple has been expanding its product suite beyond cross-border payments, recently piloting tokenized real estate and CBDC solutions. Acquiring Standard Custody allows Ripple to onboard more enterprise clients while keeping assets within a fully compliant and regulated environment.
📌 Why It Matters:
- Ripple strengthens position in institutional crypto infrastructure
- Adds a NYDFS-regulated custodian to Ripple’s ecosystem
- Expands capabilities beyond XRP into broader financial services
