Ripple Highlights Growing Demand For Cryptocurrency Custody

According to PANews, Ripple has released an insight report detailing how custodians can meet the increasing institutional demand for cryptocurrency custody. As the market rapidly expands, Ripple emphasizes that the global custody services market is projected to grow from $41 billion in 2023 to over $100 billion by 2033. Digital assets are driving this growth, providing ample opportunities for financial industry custodians to leverage this emerging technology. Ripple's report, titled 'Digital Asset Custody: A Quick Guide for Custodians,' underscores the necessity of advanced custody, governance, and trading infrastructure to help providers stand out in the market. With the ongoing digital transformation, tokenization is expected to cover more than 10% of global assets by 2030. Custodians must support continuous digital asset flow, integrate multi-chain capabilities, and handle high transaction volumes. As demand increases, scalability and compliance will be crucial, requiring institutions to maintain efficient infrastructure while adhering to regulations.