Garanti BBVA Kripto renews Ripple partnership for security

Garanti BBVA Kripto renewed its Ripple partnership to secure Bitcoin, Ethereum, and XRP, aiming to expand crypto services and improve cross-border payments in Turkey.

Garanti BBVA Kripto, the digital asset division of Turkey’s second-largest private bank, has renewed its partnership with Ripple. This ongoing collaboration leverages Ripple’s institutional-grade custody technology to safeguard major cryptocurrencies, including Bitcoin, Ethereum, and XRP. The partnership, spanning nearly a decade, has included pilot projects, equity investments, and commercial launches. It integrates Ripple’s custody software, IBM’s LinuxONE hardware security modules, and the 2023 acquisition of Metaco to provide a secure and compliant digital asset infrastructure. Launched in late 2024 with 14,000 early adopters, Garanti BBVA Kripto now aims for broader adoption by offering secure storage and transfer solutions for retail clients. The partnership also seeks to enhance cross-border payments via RippleNet, reducing transaction times and costs, while advancing compliant crypto services in Turkey despite regulatory challenges.