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Anchorage Added Custody Support For XRP

Anchorage, an institutional-grade cryptocurrency custody solutions provider, has added support for Ripple (XRP) in its list.

The information went live on April 2 via the company’s official blog on Medium.  

The world’s third-largest crypto asset with the market cap $7,930,271,420 (figures by CoinGecko) is now getting a custody provision on Anchorage in a highly secure way.

As per Anchorage’s website, the custodial solution for XRP— cross border payment solution designed by Ripple, is up from April 2.

Anchorage Trust Company eliminates vulnerabilities that expose private keys to risk. Investors now have the option of a Qualified Custodian that’s both more secure and more usable. Anchorage will support all assets that meet our standards of quality and safety.

So far, Anchorage is providing custody for 22 crypto assets including ANT, REP, BTC, BCH, ATOM, DAI, MANA, ETH, FOAM, MKR, NMR, OMG, XRP, etc..

The blogs reads,

“There’s an ecosystem of institutions that hold XRP and want a more secure and usable institutional custody solution. We’re proud for Anchorage to provide what these institutions need.”

Ripple’s Xrping- Reliable Resource

Diogo Mónica, Anchorage’s Co-founder and President, mentioned that the company is providing support to XRP by deploying various resources. Few among others are  Xpring– a Ripple’s developer platform, which has created to provide developer tools, services, and programs to integrate money into apps.

To maintain the process simple and secure, other resources like xrpl.org– rippled open-source server (that anyone can use), and the node implementation that powers the XRP Ledger which is maintained by Xpring are being used.

Reportedly, the company is looking forward to offering additional services while going up.

“Furthermore, the flexibility of the Anchorage platform will allow us to support more advanced XRP functionality like Payment Channels should customer demand require it.”

Image by Jan Alexander from Pixabay