Ripple has partnered with SettleMint to plug Ripple Custody into SettleMint's Digital Asset Lifecycle Platform, giving banks and other regulated institutions one system to custody, issue and manage tokenized assets. The offering has already launched in Asia, with expansion planned as institutional demand grows, and both RLUSD and XRP are named as assets underpinning the setup.
Ripple Labs and SettleMint have announced a partnership that plugs Ripple Custody into SettleMint's Digital Asset Lifecycle Platform (DALP), giving regulated financial institutions a single system to custody, issue and manage tokenized assets across their full lifecycle. The companies announced the deal from Singapore.
Asia Launch, Wider Rollout Planned
The offering has already commenced in Asia, and the companies plan to extend it to other markets as institutional demand develops. Beyond banks, the stack targets market infrastructure operators and sovereign entities, adding compliance, settlement and servicing to the custody and issuance layer so institutions can drop separate vendors for each function.
According to Ripple, Fiona Murray, Managing Director, Asia Pacific, said institutions are asking: "how to do more without stitching together separate solutions for custody, issuance and governance".
Tokenization Market Cited as Backdrop
The joint release cites Boston Consulting Group's May 2026 report, which projects that tokenized real-world assets could reach $88 trillion by 2035. It also estimates that banks failing to adapt could see profits fall by as much as 30% over the same horizon. The release names RLUSD, Ripple's stablecoin, and XRP as assets underpinning the company's solutions.
Ripple has also been active elsewhere in the region. The company piloted RLUSD in Singapore's central bank sandbox with supply chain finance firm Unloq in March. Its XRP Ledger separately featured in a cross-border pilot with JPMorgan, Mastercard and Ondo Finance that settled tokenized US Treasuries in under five seconds.
Custody Stack Built Through Acquisitions
Ripple has been selling payments, custody, liquidity and treasury infrastructure to banks and payment providers since it was founded, and has assembled its custody line through a run of transactions. The company has put its cumulative M&A and corporate venture spending on crypto infrastructure at around $4 billion.
Source: CryptoPotato
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