Garanti BBVA collaborates with Ripple and IBM to enhance its digital asset platform, ensuring high performance, robust security, and increased customer trust.
Garanti BBVA recently has collaborated with Ripple and IBM to enhance its digital asset platform. This collaboration aims to ensure high performance and robust security. Garanti BBVA seeks to boost customer trust in digital assets by utilizing Ripple’s custody solutions and IBM’s infrastructure.
The bank’s digital assets division Garanti BBVA Kripto has over 14,000 users. With this partnership, Ripple will be more concerned with sophisticated custody services. IBM will supply essential security options. Following a successful pilot run in 2023, the bank is now extending these improvements to everyone.
By doing so, Garanti BBVA will develop a sound key management operation to enhance its security. This system provides end-to-end security for managing private keys, applications, and data. As a result, the technology helps the bank create and develop its operations effectively and securely.
Strategic Collaborations Position Garanti BBVA for Digital Finance Expansion
Some of the main components of this security solution are data encryption and isolation of customer environments. In addition, it includes Hardware Security Modules that are compliant with the highest security levels. This approach also helps to minimize risks associated with possible cyber threats, as the company’s activities are regulated in all directions. Consequently, customer assets are always safe and sound.
Abalı also emphasised the need to diversify the types of assets available for investment. Improving the service infrastructure is vital for development. The Ripple and IBM partnership offers a sound custodial solution to the problem. This framework creates safety and compliance, increasing customers’ confidence.
Işıl Kılınç Gürtuna, General Manager at IBM Türkiye, shared his thoughts regarding the partnership. She stressed the importance of the platform’s safety and compliance with the laws. IBM’s infrastructure will boost Garanti BBVA Kripto’s security. It builds on IBM’s experience in digital asset management, specifically in the custody of these assets.
Aaron Sears, SVP at Ripple, was thrilled about the partnership. He stressed that only safe custody creates value in the digital economy. This collaboration meets the emerging need to diversify the available asset classes and contributes to the growth of Türkiye’s crypto market.
Ultimately, these strategic partnerships allow Garanti BBVA to enhance its digital asset services. They must ensure security and compliance. This shows that the bank is prepared to grow in the emerging digital finance and financial technology market.
