Continuing its cryptocurrency moves, Garanti BBVA Crypto announced that it has entered into a strategic partnership with IBM and Ripple for the custody solutions of its crypto asset trading platform, which serves more than 14 thousand users.
Following a successful pilot in 2023, the bank is rolling out the service to its entire customer base, leveraging technology partnerships to continue delivering the highest standards of performance, security and customer trust.
The combined solution from Ripple Custody and IBM enables the bank to securely build, deploy and manage enterprise-grade key management infrastructure with end-to-end security to protect private keys, applications and data.
Garanti BBVA currently provides services as Garanti BBVA Crypto for Bitcoin (BTC), Ethereum (ETH), USDC, Avalanche (AVAX), Solana (SOL), XRP, Arbitrum (ARB) and Chiliz (CHZ).
“Garanti BBVA Crypto aims to provide digital assets with high performance, security and customer trust standards by establishing strategic partnerships with Ripple through its subsidiary Ripple and the service it receives from IBM for the secure storage of its crypto asset trading platform serving more than 14 thousand users.”
Garanti BBVA Crypto CEO and Board Member Korcan Abalı said in his statement: “We have seen a clear demand and increasing interest from our customers for digital assets. In order to respond to this demand, we established our Garanti BBVA Digital Assets company in 2023 and currently provide services for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB and SOL as Garanti BBVA Crypto. The number of our customers who prefer to transfer and store crypto assets is increasing day by day. We will continue to scale by increasing our asset diversity and improving our service infrastructure. Our collaboration with Ripple and IBM gives us the confidence of an enterprise-grade custody infrastructure that offers security, robust governance and compliant processes.”
“We are excited to partner with Garanti BBVA Crypto to support the development of Turkey’s vibrant crypto asset market,” said Aaron Sears, Ripple’s Senior Vice President of Global Client and Partner Success. “Secure custody is key to unlocking value and addressing the growing demand for new asset classes in the digital economy. We are committed to supporting our customers around the world to strengthen the digital asset market with our secure and compliant services.”
