Garanti BBVA Expands Crypto Services with New Wallet and Partnerships

Garanti BBVA Kripto is collaborating with Ripple and IBM to enhance the security of its crypto asset trading platform.

Turkish banking giant Garanti BBVA (NYSE: GRTNY) has expanded its crypto asset trading platform capabilities through a collaboration with Ripple and IBM. This partnership follows the bank's successful pilot in 2023.

The initiative aims to enhance performance, security, and customer trust in crypto asset trading. Garanti BBVA Kripto customers will now gain access to a solution that combines Ripple Custody and IBM technology.

According to the press release, the solution enables Garanti BBVA to "create and manage institutional-grade key management infrastructure with end-to-end security to protect private keys, applications, and data."

Garanti BBVA Kripto CEO Highlights Customer Interest, Bank's Progress

Emphasizing the growing customer interest in digital assets, Garanti BBVA Kripto CEO Korcan Abali's group launched Garanti BBVA Digital Assets in 2023. The company currently provides services for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB, and SOL.

This expansion in crypto assets on Garanti BBVA's platform showcases the bank's progress since launching its digital asset company. At the launch, Garanti BBVA Board Chairman Cagri Suzer highlighted the project's aim to create accessible financial opportunities based on customer needs.

Garanti BBVA Expands Crypto Services with New Wallet, Partnerships in 2023

In June 2023, Garanti BBVA Digital Assets launched a crypto wallet, enabling customers to store and transfer digital assets via the Garanti BBVA crypto app. The bank also took steps to enhance its crypto services throughout the year, with the latest collaboration being a significant addition to these efforts.

Highlighting the daily increase in Garanti BBVA customers utilizing crypto assets for transfers and storage, Abali expressed commitment to scaling by expanding asset diversity and focusing on infrastructure development.

Abali's perspective on the collaboration is that it strengthens their institutional-grade custody infrastructure, ensuring safety, robust governance, and compliance.

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