Ripple Updates Custody Platform with Canton Network Support

Ripple has released version 1.43 of Ripple Custody, adding support for the Canton Network. With this update, banks and funds will be able to store Canton Coin and tokens under the CIP 56 standard in a single secure environment. This move aims to strengthen Ripple's position in the tokenization market for real-world assets on Wall Street. The new version offers tools such as the separation of private keys for institutions, pre-approval mechanisms, and two-step transfers. The Canton Network aims to address privacy issues in blockchain usage on Wall Street by establishing a structure where each participant can only see their own data in multi-party transactions. The integration includes major financial institutions such as Goldman Sachs, BNP Paribas, and BNY Mellon. The CIP 56 standard allows for the completion of payment flows against delivery within the same transaction for asset transfers. By adding Canton support, Ripple may limit banking clients' inclination towards different infrastructures and strengthen its claim to be one of the foundational infrastructure partners in the multi-chain corporate world.

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