Ripple and SettleMint Partner on Unified Blockchain Solution for Banks
Ripple has partnered with SettleMint to simplify the transition of banks and financial institutions to blockchain technology. The collaboration aims to provide a unified solution for custody, issuance, compliance, settlement, and servicing.
The integrated banking infrastructure will allow institutions to operate all key asset management functions within a single technology stack, reducing the need for coordinating multiple providers. This streamlined procurement model is expected to be more efficient than traditional methods.
Ripple Custody delivers institutional-grade asset security and governance, while SettleMint's Digital Asset Lifecycle Platform manages the full lifecycle of tokenized assets across issuance, transfer, and servicing. The partnership builds on Ripple's strategy to expand beyond offering a single cryptocurrency product by building out a full institutional infrastructure.
The Boston Consulting Group estimates that the total value of digital real-world assets may reach $88 trillion by 2035, potentially accounting for 16% of global investable assets in an optimistic scenario. Banks could see up to 15% of their revenue and 30% of profits at risk if value continues shifting toward digital-asset competitors.