Futureverse Chooses Ripple Custody to Provide Custody Solutions for Web3 Apps, Games and Experiences
September 02 2024 - 9:00PM
Business Wire
Ripple, the leading provider of digital asset infrastructure,
and Futureverse, a premier AI and metaverse technology and content
company, announced plans to integrate Ripple Custody to enable
Futureverse to securely custody its digital assets.
Futureverse will enable secure, compliant Know Your Customer
(KYC) verified access to DeFi via its self-developed Ottó
blockchain. Futureverse will leverage Ripple Custody to ensure
cryptocurrencies are safely received and stored before being minted
on the Ottó blockchain.
With the crypto custody market expected to reach nearly $10
trillion by 2030, the need for secure, compliant, and
institutional-grade custody solutions is critical. Ripple Custody
is designed to meet this demand, with a state-of-the-art governance
framework to safeguard a wide array of digital assets - from
stablecoins to tokenized real-world assets like stocks, bonds,
commodities, and real estate. By addressing the increasing adoption
and importance of digital assets, Ripple Custody ensures that
institutions, enterprises, and crypto businesses can securely
custody their digital assets while navigating the evolving Web3
landscape with confidence.
"The integration of Ripple Custody is driven by Ripple’s
industry-leading security features and capabilities that bolster
the security of our customers’ digital assets,” said Jeffrey
McDonald, Founder of Ottó Blockchain and Chief Customer Officer of
Futureverse. “Our long-standing relationship with Ripple, along
with their industry-leading product features, made Ripple Custody
the ideal solution as we continue to build in the AI and metaverse
technology space."
Ripple's enterprise-grade solutions are designed to meet the
evolving needs of businesses in the digital economy. Beyond
custody, Ripple provides a comprehensive suite of services,
including secure storage of crypto and digital assets, off-ramping
of stablecoins, and payouts in local fiat currencies across 80+
markets. These solutions are tailored to help businesses scale
without compromising on security, compliance, or operational
efficiency.
"We believe that security and compliance are foundational to the
success of any digital asset platform,” said Fiona Murray,
Managing Director of APAC at Ripple. "Our continued
collaboration with Futureverse underscores Ripple's dedication to
supporting Web3 projects and communities with secure and scalable
custody solutions.”
Ripple and Futureverse are long-standing participants in the XRP
Ledger (XRPL) community. Futureverse has adopted the XRPL NFT
standard, which leverages the network's low transaction fees and
high throughput capabilities. Additionally, Futureverse utilizes
XRP as the network gas token and is integrated with the XRPL
decentralized exchange (DEX) to supply network liquidity. In 2023,
Ripple participated in Futureverse’s $54 million Series A funding
round, led by 10T Holdings.
About Ripple
Ripple is the leading provider of digital asset infrastructure
for financial institutions—delivering simple, compliant, reliable
software that unlocks efficiencies, reduces friction, and enhances
innovation in global finance. Ripple’s solutions leverage the XRP
Ledger and its native digital asset, XRP, which was purpose-built
to enable fast, low-cost, highly scalable transactions across
developer and financial use cases. With a proven track record
working with regulators and policymakers around the world, Ripple’s
payments, custody and stablecoin solutions are pioneering the
digital asset economy—building credibility and trust in enterprise
blockchain. Together with customers, partners and the developer
community, we are transforming the way the world creates, stores,
manages and moves value.
About Futureverse
Futureverse is a leader in revolutionary AI and metaverse
technologies that enable open, scalable, and interoperable apps,
games and experiences. Futureverse maintains one of the largest
digital collectible communities in the world and has amassed an
expansive cultural footprint within the metaverse space and beyond
through strategic partnerships with the world's leading IP and
brands. Futureverse recently signed with Creative Artists Agency
for representation across Film/TV, sports, music, consumer
products, and more. For more information, visit
futureverse.com.
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Megan Katz press@ripple.com