Ripple Custody Review

Best known for its XRP protocol and cross-border payments, Ripple is rapidly expanding its custody service for businesses and institutions.

You can custody cryptocurrency and real-world assets through traditional and decentralized platforms.

My Ripple custody review takes a look at how you can tokenize assets and use the company’s other services for an all-in-one global transaction network.

The Verdict for Ripple Custody

I’ve given them a rating of 8.9 out of 10.

Criteria	Rating (out of 10)
Security Standards	9
Pricing & Fees	7
Asset Segregation	9
Insurance Coverage	8.5
Services & Offerings	9
Regulatory Compliance	9
Onboarding & Integration	9
Overall Rating	8.9

In this review of Ripple custody I’ve followed BIC’s detailed criteria for evaluating the crypto custodian.

About Ripple

Although a leader in digital asset transactions since 2012, Ripple crypto custody for institutional investors is relatively new, having only launched in 2024.

The B2B technology company offers regulated institutional-level custody services to over 15 countries.

The company is already reporting strong growth in new customers worldwide, as you can self-custody digital and real-world assets on the same platform.

Notable custody clients already include BBVA and HSBC. Banks, crypto companies, and fintech businesses across the world can utilize bank-grade custody.

The parent company, Ripple Labs Inc.,  is already well-known for these services:

• Cross-border payments
• Stablecoins (Ripple USD)
• XRP Ledger  (XRPL or Ripple Protocol)

The custodial services complement the company’s well-known core services, enabling the quick completion of digital transactions and the tokenization of real-world assets (RWAs). 

Instead of building a custody service from scratch, Ripple acquired Swiss-based Metaco in 2023.

Their platform facilitates custody of digital assets and has an established customer base.

This was Ripple’s first significant acquisition since its founding in 2012. 

A second custody-related acquisition was announced in February 2024 with Standard Custody & Trust Company.

This institutional-grade custody and escrow service provides end-to-end encryption and distributed trust protocols for regulated multi-signature cold storage. 

I anticipate Ripple rolling out more services for institutional and high-net-worth customers as demand for digital asset custodians increases.

In February 2025, the company filed to trademark “Ripple Custody.” 

Since 2017, the San Francisco-based company is under the leadership of CEO Brad Garlinghouse.

Co-founder Chris Larsen serves as Executive Chairman of Ripple and its Board of Directors. The company continues to focus on global payments and digital asset custody.

There are no known lawsuits now that the Ripple Labs vs. SEC case, dating back to 2020, is resolved. This case focused on the XRP token and was a partial victory for Ripple.

Security Standards

Ripple uses bank-level encryption technology and practices to custody your digital assets.

Its security partners use FIPS 140-2 Level 4 certified cryptographic hardware. Level 4 is the most secure rating with strict physical protection safeguards.

Your private keys are in cold storage or self-custody. Either option relies on multi-signature technology to prevent permanent loss of wallet access.

Additionally, several parties must verify transaction requests to eliminate potential fraud.

Ripple Custody also maintains these industry-standard security certifications:

• ISO 270001
• SOC 2 Type II

It’s also a Common Criteria Evaluation Assurance Level (EAL) 5+ member.

EAL Level 5 is the third highest tier and is suitable for asset custodians who need a repeatable and formal security process, such as for digital currency accounts. 

Recurring audits look for these corresponding security certifications to help spot flaws and implement better practices.

Pricing & Fees

Unfortunately, Ripple doesn’t disclose its custody fee schedule or minimum balance requirements.

This practice isn’t unusual with most institutional custody services requiring an initial consultation to draft a personalized pricing plan.

Asset Segregation

Ripple segregates each client’s account to satisfy the current custody regulatory requirements.

It’s able to easily safeguard assets after acquiring custodians Metaco and Standard Custodian & Trust Company.

Clients can also request self-custody for more control over the private keys.

Multi-party computation still ensures that your organization’s assets allow designated keyholders to maintain access without compromising sensitive data.

Insurance Coverage

Ripple doesn’t publicly disclose its coverage limits or incident eligibility. 

Insurance benefits typically cover losses stemming from commercial crime, fraud, and misuse when the custodian is at fault. 

Custodial wallets tend to have the most extensive coverage as the platform manages all of the private keys.

However, hot wallets and self-custody wallets have incrementally less, particularly if you hold your own crypto.

Services & Offerings

You should consider Ripple’s custody services when you can benefit from its unique fiat and cryptocurrency on-ramps and off-ramps.

Real-world asset tokenization

In addition to the Ripple crypto key storage features, you can tokenize physical assets on the same platform.

It’s easy to manage portfolios as the customizable API dashboard integrates with traditional finance, centralized exchanges, and decentralized finance (DeFi) apps.

The blockchain transactions take place on the XRP Ledger for transparency and efficiency. This network enables trading, escrow, and movement of assets.

You can self-manage your assets or offer tokenization to your clients who want high-touch service.

For example, Ripple anticipates that 10% of global assets will need tokenization by 2030.

Stablecoins

You’re able to tokenize assets and settle transactions on the XRP Ledger and Ethereum blockchain networks using the Ripple USD stablecoin (RLUSD). 

Ripple USD has a 1:1 backing with U.S. Dollar cash and cash equivalents in a segregated reserve.

It is redeemable for fiat currency in participating jurisdictions.   

Ripple payments

Conduct international real-time payments using the Ripple Payments feature.

The global network supports 24/7 transactions in 90 countries using over 55 currencies, including the RLUSD stablecoin.

Regulatory Compliance

Ripple operates on several continents and strategically teams up with local custody partners familiar with a particular jurisdiction’s regulatory framework. 

The platform ensures you comply with international Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter-Terrorist Financing (CFT) regulations.

It is also globally licensed to execute virtual currency transactions on your behalf.

One of its United States-based custody partners, Standard Custody & Trust Company, is regulated by the state of New York.

Additionally, Ripple is a member of the American Bankers Association and the London-based Payments Association.

Onboarding & Integration

Here are the initial onboarding steps you will receive hands-on help navigating:

1. Complete the contact form: Start the onboarding process on the Ripple website by providing your contact information, business email address, and a brief message about your custody goals. 
2. Speak with a sales representative: The sales team will contact you to review the next steps in onboarding, such as KYC and AML compliance.
3. Customize online dashboard: After funding your account, you can personalize your cloud-based dashboard to view your assets under custody. Assigning governance roles to team members and trusted contacts also occurs at this time.

Ripple Custody Alternatives

These enterprise-grade custody platforms may support more cryptocurrency options and offer various asset management features that are more relevant to your situation, such as cryptocurrency staking.

Coinbase Prime

Coinbase Prime supports over 430 cryptocurrency tokens for trading and staking. It also offers a generous $325 million commercial crime insurance policy.

A white-glove trading desk and access to over 10 exchanges help fill advanced trading orders with optimal price and liquidity.

Gemini Custody

Gemini Custody supports over 130 cryptocurrencies for trading and a few staking rewards platforms. Perks include zero setup fees and up to $200 million in custodial insurance.

However, Gemini doesn’t support self-custody wallets at this time like Ripple.

Fireblocks

Fireblocks is a prominent institutional-grade cryptocurrency wallet provider.

It also provides security for some of the best crypto IRA companies. Tokenization and digital payments are also supported on this platform.

Is Ripple a custody solution you can trust?

Ripple is a trustworthy and versatile custody provider that has been influential in the virtual currency space for the last decade.

It’s best for using the XRP Ledger and the cross-border payment infrastructure. 

While the platform is adding service partners and rolling out more features, several limitations will frustrate cryptocurrency traders. 

First-time crypto investors will also benefit more from other platforms.

FAQs