Ripple Labs Expands Crypto Custody Partnership with Garanti BBVA

Ripple has announced an extension of its partnership with Garanti BBVA, a Turkish financial institution. Garanti BBVA will continue using Ripple's custody technology to secure major crypto assets including Bitcoin, Ethereum, and XRP.

Key Points

Garanti BBVA, a Turkish partner of Ripple, extends its use of Ripple’s custody technology.
The partnership allows Garanti BBVA’s customers access to secure transfers and storage for various cryptocurrencies.
Garanti BBVA entered the crypto market in 2024 through a pilot program with Ripple and IBM.
The bank offers services covering cryptocurrencies like BTC, ETH, AVAX, USDC, CHZ, XRP, and SOL using Ripple's Metaco and IBM’s LinuxONE servers.
This expansion follows Ripple's acquisition of Metaco in 2023.

Other Developments

Ripple received a “Green Light Letter” for an Electronic Money Institution (EMI) license from Luxembourg's CSSF.
This preliminary approval is part of Ripple's portfolio of over 75 global regulatory licenses.
Full authorization will grant Ripple the rights to offer services across the European Economic Area.