Wednesday, February 19, 2025

Garanti BBVA Kripto Partners with Ripple and IBM for Enhanced Crypto Security

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Garanti BBVA Kripto has announced a strategic collaboration with Ripple and IBM to enhance the security and performance of its crypto asset trading platform. The partnership aims to provide high standards of digital asset security and customer trust by leveraging advanced technologies from both companies.

Following a successful pilot program in 2023, Garanti BBVA Kripto is rolling out the service to its entire customer base. The collaboration with Ripple and IBM enables the bank to deploy institutional-grade key management infrastructure, ensuring end-to-end security for private keys, applications, and data.

The solution, which combines Ripple Custody and IBM’s technology, incorporates advanced security features such as data encryption, customer environment isolation, and embedded Hardware Security Modules with top security certifications. This infrastructure also includes a versatile governance framework that mitigates risks associated with malicious actors by removing single points of compromise.

Korcan Abalı, CEO and Member of the Board at Garanti BBVA Kripto, stated, “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. 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.”

Işıl Kılınç Gürtuna, IBM Türkiye General Manager, emphasized the importance of secure platforms for managing digital assets. “IBM’s infrastructure capabilities in IBM®LinuxONE will provide Garanti BBVA Kripto with a high level of security standards in a sustainable environment leveraging IBM’s expertise in the Digital Asset Custody domain,” she said.

Aaron Sears, SVP of Global Customer & Partner Success at Ripple, expressed enthusiasm for the partnership, stating, “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. We remain committed to supporting our customers around the world to power the digital asset market with our secure and compliant services.”

The collaboration is expected to significantly enhance the security and efficiency of Garanti BBVA Kripto’s services, meeting the growing demand for digital asset management and providing a secure environment for its more than 14,000 users.

For more details, the announcement can be found here.


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Sharif
Sharif
Sharif is a seasoned software engineer with a decade of experience in the tech industry, including 8 years in cryptocurrency and blockchain. With deep knowledge of decentralized technologies, Sharif offers insightful analysis and expert commentary on the transformative potential of blockchain. Through CoinsHolder.com, he shares his expertise, making him a respected voice in the cryptocurrency community.

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