Garanti BBVA is rolling out a crypto safekeeping service to its customers through a collaboration with Ripple and IBM.
The combined solution from Ripple Custody and IBM has enabled the bank to build, deploy and manage institutional-grade key management infrastructure with end-to-end security to protect private keys, applications and data.
The advanced security capabilities embedded within the package include data encryption, isolation of customer environments, embedded Hardware Security Modules, and a governance framework that removes single points of compromise and helps mitigate the risks associated with malicious actors.
The Turkish bank has so far signed up 14,000 users for its digital asset service and in June began offering crypto wallet services on its mobile platform.
Launched in 2003 as BBVA Krypto, the bank currently supports services for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB, and SOL.
Korcan Abalı, CEO and Member of the Board at Garanti BBVA Kripto, says: "The number of our customers who prefer to transfer and store their crypto assets is increasing daily. We will continue to scale by increasing our asset diversity and developing our service infrastructure. Our collaboration with Ripple and IBM gives us the confidence of institutional-grade custody infrastructure, which offers safety, robust governance and compliant processes.”s.”