Ripple CEO Predicts $10 Trillion Market for Digital Asset Custody
Ripple's CEO Brad Garlinghouse recently discussed the macro environment for digital asset custody, stating that it is headed towards $10 trillion by the end of the decade. According to him, institutions will need secure storage, reliable transfer infrastructure, and tokenization capabilities as the market grows.
Garlinghouse emphasized three pillars in Ripple's strategy: custody, transfer infrastructure, and a tokenization engine, which includes work around central bank digital currencies. He recalled an instance where a top-10 global bank approached Ripple for assistance with custody after acquiring Metaco.
This synergy is key to Ripple's pitch, as existing clients already trust the company for payment infrastructure. Adding custody expands what Ripple can offer without requiring separate relationships elsewhere. Analysts are facing criticism due to XRP's underperformance despite major developments in Ripple's product suite.