- Garanti BBVA Kripto partners with Ripple and IBM to boost security for its expanding cryptocurrency trading platform.
- Ripple’s custody solutions and IBM’s infrastructure ensure top-tier security with encryption and Hardware Security Modules.
- Garanti BBVA Kripto’s partnership with Ripple and IBM enhances secure custody to support growing demand for digital assets.
Garanti BBVA Kripto has agreed with Ripple and IBM to increase the security of its cryptocurrency trading platform. After trialling the service in 2023, the Turkish bank is now rolling the service out to all of its customers, having partnered with leading technology providers to guarantee the performance, security and integrity of its digital asset services.
Ripple’s institutional grade custody solutions and IBM’s rich infrastructure form the basis of the collaboration. Combined, they give Garanti BBVA Kripto a robust key management, data encryption and HSM that comes with top of the line security certification. This infrastructure seeks to remove the possibility of a single point of failure and also reduce the risks from possible cyber threats in an effort to protect the user trading interface.
Korcan Abalı, CEO of Garanti BBVA Kripto, said that there is a big trend in the need for safe storage and trading of digital assets. Abalı said.
“We’ve seen clear demand and growing interest from our customers in digital assets. In order to respond to this demand, we launched our Garanti BBVA Digital Assets company in 2023 and currently provide services for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB, and SOL as Garanti BBVA Kripto.”
IBM has provided the infrastructure for the platform, importantly through IBM LinuxONE, which underpins the platform’s security. Işıl Kılınç Gürtuna, IBM Turkiye General Manager explained the significance of the security element in the digital asset space. She said that IBM’s technology will help to provide a safe and compliant environment for the company’s expanding customer base of Garanti BBVA Kripto that will meet the standards of legislation.
Ripple’s Role in Crypto Expansion
Ripple, one of the leading companies in the digital asset industry, welcomed the collaboration. Aaron Sears, SVP of Global Customer & Partner Success at Ripple, explained that the lack of secure custody is one of the biggest reasons behind the limited growth of the crypto asset market. He stated:
“We’re thrilled to partner with Garanti BBVA Kripto to bolster the development of Türkiye’s vibrant crypto asset market. Secure custody is foundational to unlocking value and addressing the growing demand for new asset classes across the digital economy.”
The increasing adoption of digital assets is further supported by the partnership of Garanti BBVA Kripto with Ripple and IBM. This partnership is an important milestone in the development of the security required for the growth of the crypto asset space in Turkiye.
