Ripple expands APAC custody through SettleMint deal

Ripple and SettleMint announced a strategic partnership on Sept. 1 that combines institutional digital asset custody with tools for issuing and managing tokenized assets. Summary Ripple and SettleMint partnered to combine institutional custody with tokenized asset lifecycle management capabilities regionally. The initial offering targets regulated financial institutions across Asia Pacific before possible expansion elsewhere globally. SettleMint DALP manages issuance, compliance, settlement, custody and servicing through one governed platform for institutions. Ripple Custody uses configurable controls, approval workflows and institutional key management infrastructure for assets securely. The partnership announcement provided no named customers, implementation dates, pricing or transaction volumes initially publicly. The companies said the initial offering would target regulated financial institutions in Asia Pacific. It integrates Ripple Custody with SettleMint’s Digital Asset Lifecycle Platform, known as DALP, according to the official announcement. The integration is intended to give banks, financial market operators and other regulated institutions one foundation for custody, i...