Garanti BBVA Partners With Ripple and IBM to Enhance its Digital Assets Platform

• Garanti BBVA Kripto has announced a collaboration with Ripple and IBM.
• The partnership aims to provide a secure environment for its crypto asset trading platform.
• Garanti BBVA provides services for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB, and SOL.

Garanti BBVA Kripto is collaborating with Ripple and IBM to enhance the security of its crypto asset trading platform. After completing a successful pilot in 2023, the bank is rolling out its solution to all customers. Garanti BBVA expects this collaboration to improve performance, security, and customer trust.

In a press release, the Ripple team explained that the combined solution from Ripple Custody and IBM allows Garanti BBVA to “create and manage institutional-grade key management infrastructure with end-to-end security to protect private keys, applications, and data.”

Garanti BBVA Kripto’s CEO Korcan Abali noted the growing customer interest in digital assets. Abali’s group launched the Garanti BBVA Digital Assets company in 2023, which now offers services for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB, and SOL.

The expanding number of crypto assets on Garanti BBVA’s platform demonstrates the bank’s progress since launching its digital asset company. During the launch, the bank’s board chairman, Cagri Suzer, stated the project’s goal was to make financial opportunities more accessible, based on customer needs.

Garanti BBVA Expands Crypto Services with New Wallet and Partnerships

In June 2023, Garanti BBVA Digital Assets launched a crypto wallet, allowing customers to store and transfer digital assets through the Garanti BBVA crypto app. The bank has taken other steps to improve its crypto services, with this recent collaboration marking another milestone.

Abali highlighted the daily increase in Garanti BBVA customers using crypto assets for transfers and storage, and committed to scaling by increasing asset diversity and focusing on infrastructure development. He sees the collaboration with Ripple and IBM as strengthening their institutional-grade custody infrastructure, offering safety, robust governance, and compliance.