Crypto Quill

Garanti BBVA Kripto has officially launched its upgraded cryptocurrency asset trading platform, marking a significant step in the digital asset landscape. This new platform, developed in collaboration with Ripple and IBM, aims to provide enhanced performance and security for its users. The announcement was made on October 23, 2024, following a successful pilot program in 2023.

A Strategic Collaboration for Security and Performance

The partnership with Ripple and IBM is central to the platform’s development, ensuring that Garanti BBVA Kripto can offer institutional-grade custody infrastructure. This collaboration is designed to enhance safety, governance, and compliance processes, which are critical in the rapidly evolving world of digital assets.

• Key Features of the Collaboration:
  • Institutional-grade custody infrastructure.
  • Robust governance and compliance processes.
  • Enhanced security measures for asset management.

Korcan Abali, CEO of Garanti BBVA Kripto, emphasized the company’s commitment to scaling its services by diversifying its asset offerings and improving its service infrastructure. The collaboration with industry leaders like Ripple and IBM provides the necessary confidence to navigate the complexities of digital asset management.

Meeting Growing Customer Demand

The launch of Garanti BBVA Digital Assets comes in response to increasing customer interest in cryptocurrency trading and management. The platform currently serves around 14,000 users, reflecting a growing demand for services related to transferring and storing crypto assets.

• Customer-Centric Approach:
  • Focus on increasing asset diversity.
  • Development of a robust service infrastructure.
  • Commitment to meeting the evolving needs of customers.

The company has reported a daily increase in demand for crypto asset services, indicating a strong market appetite for secure and efficient trading solutions. This growth aligns with broader trends in the cryptocurrency market, where user interest continues to surge.

Advanced Security Measures

Garanti BBVA Kripto’s platform utilizes a combined solution from Ripple Custody and IBM to establish a secure key management infrastructure. This infrastructure is designed to protect private keys, applications, and sensitive data, ensuring that users can trade with confidence.

• Security Features Include:
  • Data encryption and isolation of customer environments.
  • Embedded hardware security modules.
  • A governance framework that mitigates risks of compromise.

Işil Kilinç Gürtuna, IBM Turkey General Manager, highlighted the importance of IBM’s infrastructure capabilities in providing high security standards within a sustainable environment. This partnership aims to leverage IBM’s expertise in digital asset custody to enhance the overall security of the platform.

Ripple’s Commitment to Secure Custody

Ripple’s involvement in the project underscores its commitment to providing secure custody solutions that address the growing demand for digital assets. Aaron Sears, senior vice president of global customer and partner success at Ripple, noted that secure custody is essential for unlocking value in the digital economy.

• Recent Enhancements by Ripple:
  • Introduction of new features for custody solutions.
  • Integration of transaction screening services.
  • Upgrades to usability and user interface.

These enhancements are part of Ripple’s ongoing efforts to support customers globally and power the digital asset market with secure and compliant services.

As Garanti BBVA Kripto rolls out its new platform, it positions itself as a key player in the cryptocurrency trading space, ready to meet the demands of an increasingly digital economy.