Ripple announced on January 22, 2026, that it has extended its crypto custody agreement with Garanti BBVA, one of Turkey's largest banks, through a social media post by executive Reece Merrick. The renewed partnership will allow Garanti BBVA to continue leveraging Ripple's custody technology to offer its millions of retail customers secure transfers and storage for major digital assets, including XRP, Bitcoin (BTC), and Ethereum (ETH).
From Pilot to Scale
Garanti BBVA Kripto, the bank's crypto subsidiary established in 2023, initially launched a pilot program for crypto trading and custody services. The platform has so far served more than 14,000 users. With the renewal, the bank is now expanding the custody offering to its entire retail customer base, signaling that the pilot phase has successfully evolved into a scalable, operational service. Merrick noted, 'This renewal represents a massive vote of confidence in our joint vision for secure, compliant digital asset infrastructure.'
Security Architecture and Integrations
Behind the scenes, the custody solution integrates Ripple's platform with IBM's secure infrastructure, which provides hardware security modules (HSMs), isolated customer environments, encryption, and governance frameworks designed to eliminate single points of failure. This layered approach ensures that private keys, applications, and data are protected at institutional standards, meeting the regulatory requirements that Garanti BBVA must adhere to as a licensed bank.
Market Implications and Industry Outlook
The renewal is widely seen as a key milestone in the convergence of traditional banking and digital assets. By partnering with a regulated bank like Garanti BBVA, Ripple demonstrates that its custody solution can support large-scale retail adoption within a compliant framework. As global demand for secure crypto storage continues to grow, this partnership highlights how crypto infrastructure is shifting from experimental projects to essential banking utilities. Industry experts predict that more banks will follow suit, integrating custody as a standard feature for their retail clients.