{"id":22659,"date":"2024-06-12T14:30:35","date_gmt":"2024-06-12T11:30:35","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22659"},"modified":"2024-06-12T12:54:20","modified_gmt":"2024-06-12T09:54:20","slug":"ripple-acquires-standart-custody-for-stablecoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ripple-acquires-standart-custody-for-stablecoin\/","title":{"rendered":"Ripple Acquires Standard Custody for Stablecoin Launch"},"content":{"rendered":"<p>On June 11, <strong>Ripple Labs<\/strong> concluded their purchase of Standard Custody, a digital asset custodian. First revealed earlier this year, the agreement is fundamental to <strong>Ripple&#8217;s<\/strong> intended introduction of a United States dollar stablecoin and more general aims of real-world asset tokenization.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/ripple-acquires-standart-custody-for-stablecoin\/#Standard_Custodys_Regulatory_Edge\" title=\"Standard Custody&#8217;s Regulatory Edge\">Standard Custody&#8217;s Regulatory Edge<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/ripple-acquires-standart-custody-for-stablecoin\/#Expanding_Ripples_Custody_Services\" title=\"Expanding Ripple&#8217;s Custody Services\">Expanding Ripple&#8217;s Custody Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/ripple-acquires-standart-custody-for-stablecoin\/#Tokenization_The_Next_Frontier\" title=\"Tokenization: The Next Frontier\">Tokenization: The Next Frontier<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Standard_Custodys_Regulatory_Edge\"><\/span>Standard Custody&#8217;s Regulatory Edge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Standard Custody CEO Jack McDonald will be named as <strong>Ripple&#8217;s<\/strong> senior vice president of stablecoins under the terms of the agreement, therefore serving both Standard Custody&#8217;s CEO role and another.<\/p>\n<p>Pointing to Standard Custody&#8217;s regulatory approval from the New York Department of Financial Services (NYDFS), one of the toughest financial authorities when it comes to digital assets, <strong>Ripple<\/strong> underlined Standard Custody&#8217;s licensing as a fundamental capability of the digital asset custodian.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Expanding_Ripples_Custody_Services\"><\/span>Expanding Ripple&#8217;s Custody Services<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Standard Custody comes after Metaco, another digital asset custody company acquired by <strong>Ripple<\/strong> for $250 million in 2023. The purchase of Metaco by <strong>Ripple<\/strong> was highlighted by the conviction that, as banks strive to offer their clients digital asset custodial services, the institutional crypto custody market will reach $10 trillion by 2030.<\/p>\n<p>Within the context of custody services, real-world asset tokenization\u2014a market that Chainlink estimates might reach over $800 trillion if all the capital assets in the world are tokenized\u2014is included.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tokenization_The_Next_Frontier\"><\/span>Tokenization: The Next Frontier<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>For companies like <strong>Ripple Labs<\/strong>, Chainlink, and Algorand, real-world asset tokenization has become a top priority; the developing tokenizing sector is generally thought to be the next great frontier for cryptocurrencies, blockchain, and digital assets.<\/p>\n<p>Leveraging Chainlink&#8217;s CCIP interoperability protocol, the Depository Trust and Clearing Corporation (DTCC) released in May its report of a real-world asset tokenizing pilot program run between the DTCC and several major banks, including JP Morgan, Edward Jones, and BNY Mellon.<\/p>\n<p><span style=\"color: #0000ff;\"><em>This Might Interest You: <a style=\"color: #0000ff;\" href=\"https:\/\/coinengineer.net\/blog\/robinhood-to-launch-bitcoin-and-crypto-trading-in-europe\/\">Wu-Tang Clan Album Lawsuit: Shkreli vs. PleasrDAO<\/a><\/em><\/span><\/p>\n<p>The initiative sought to replicate bringing real-world data onchain and evaluate the tokenizing of fund data. The DTCC&#8217;s research found several advantages of blockchain tokenization, including automated data management and lowering of the need for record-keeping, real-world transparent APIs for consumers, and the possibility to produce<em> &#8220;dynamic data management across the life cycle of an asset.&#8221;<\/em><\/p>\n<p>In the end, the pilot study gave banks and other institutional operators hoping to use blockchain tokenization in their products and services\u2014such as automated data feeds or trading applications\u2014insight into possible future uses.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>For the latest news, be sure to follow Coin Engineer News by <a href=\"https:\/\/t.me\/coinengineernews\">clicking here<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 11, Ripple Labs concluded their purchase of Standard Custody, a digital asset custodian. First revealed earlier this year, the agreement is fundamental to Ripple&#8217;s intended introduction of a United States dollar stablecoin and more general aims of real-world asset tokenization. Standard Custody&#8217;s Regulatory Edge Standard Custody CEO Jack McDonald will be named as<\/p>\n","protected":false},"author":6,"featured_media":22660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[509,1813,488,6791],"class_list":["post-22659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ripple","tag-ripple-labs","tag-stablecoin","tag-standard-custody"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ripple Acquires Standard Custody for Stablecoin Launch - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ripple-acquires-standart-custody-for-stablecoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple Acquires Standard Custody for Stablecoin Launch - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"On June 11, Ripple Labs concluded their purchase of Standard Custody, a digital asset custodian. First revealed earlier this year, the agreement is fundamental to Ripple&#8217;s intended introduction of a United States dollar stablecoin and more general aims of real-world asset tokenization. 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