Seoul, South Korea – September 3, 2024 – Ripple, the leading provider of enterprise digital asset infrastructure, and Futureverse, a premier AI and metaverse technology and content company, announced plans to integrate Ripple Custody to enable Futureverse to securely custody its digital assets.
Futureverse will enable secure, compliant Know Your Customer (KYC) verified access to DeFi via its self-developed Ottó blockchain. Futureverse will leverage Ripple Custody to ensure cryptocurrencies are safely received and stored before being minted on the Ottó blockchain.
With the crypto custody market expected to reach nearly $10 trillion by 2030, the need for secure, compliant, and institutional-grade custody solutions are critical. Ripple Custody is designed to meet this demand, with a state-of-the-art governance framework to safeguard a wide array of digital assets - from stablecoins to tokenized real-world assets like stocks, bonds, commodities, and real estate. By addressing the increasing adoption and importance of digital assets, Ripple Custody ensures that institutions, enterprises, and crypto businesses can securely custody their digital assets while navigating the evolving Web3 landscape with confidence.
"The integration of Ripple Custody is driven by Ripple’s industry-leading security features and capabilities that bolster the security of our customers’ digital assets,” said Jeffrey McDonald, Founder of Ottó Blockchain and Chief Customer Officer of Futureverse. “Our longstanding relationship with Ripple, along with their industry-leading product features, made Ripple Custody the ideal solution as we continue to build in the AI and metaverse technology space."
Ripple's enterprise-grade solutions are designed to meet the evolving needs of businesses in the digital economy. Beyond custody, Ripple provides a comprehensive suite of services, including secure storage of crypto and digital assets, off-ramping of stablecoins, and payouts in local fiat currencies across 80+ markets. These solutions are tailored to help businesses scale without compromising on security, compliance, or operational efficiency.
"We believe that security and compliance are foundational to the success of any digital asset platform,” said Fiona Murray, Managing Director of APAC at Ripple. "Our continued collaboration with Futureverse underscores Ripple's dedication to supporting Web3 projects and communities with secure and scalable custody solutions.”
Ripple and Futureverse are long-standing participants in the XRP Ledger (XRPL) community. Futureverse has adopted the XRPL NFT standard, which leverages the network's low transaction fees and high throughput capabilities. Additionally, Futureverse utilizes XRP as the network gas token and is integrated with the XRPL decentralized exchange (DEX) to supply network liquidity. In 2023, Ripple participated in Futureverse’s $54 million Series A funding round, led by 10T Holdings.