Ripple has announced an extension of its custody agreement with Garanti BBVA Crypto in Turkey, allowing for the secure storage of major cryptocurrencies including XRP, Bitcoin (BTC), and Ethereum (ETH). This move significantly enhances the digital asset infrastructure available to millions of retail investors in Turkey.
Reece Merrick, Managing Director for the Middle East and Africa at Ripple, confirmed this development on social media platform X, emphasizing the importance of this partnership. He stated, “Our Turkish partner @garantibbvakrp is extending its custody relationship with @Ripple. They will continue to leverage our custody technology to offer their millions of retail customers secure transfers and storage for major crypto assets.”
This collaboration aims to provide a robust custody solution for Turkish customers, enabling them to safely store and manage their digital assets. The custody application is designed to meet institutional-grade security standards, ensuring that assets are protected according to stringent Turkish regulations.
With this renewed partnership, Garanti BBVA Krypto is positioned to offer a secure platform for crypto deposits, facilitating the storage and transfer of XRP, BTC, and ETH for its clients. Merrick highlighted the collaboration”s significance, describing it as a testament to their shared vision of developing a safe and compliant digital asset framework.
The strategic alliance places both Ripple and Garanti BBVA in a favorable position to expand their footprint within the Turkish cryptocurrency market, as the latter brings its extensive banking background into the digital asset space. This partnership not only increases access to secure cryptocurrency infrastructure for Turkish retail investors but also reflects growing confidence in Ripple”s custody technology.
As Ripple continues to broaden its influence in the Middle East and Africa, this initiative marks a key milestone in promoting retail adoption of cryptocurrencies in Turkey. The collaboration serves as a crucial step toward enhancing the digital asset landscape for millions of users in the region.
