Ripple + SettleMint (1 Sep 2026): They are bundling Ripple Custody with SettleMint’s DALP so banks can custody, issue, and run tokenized assets through one stack instead of stitching multiple vendors. What each side does Ripple Custody: keys, governance, HSM/MPC. Keys stay with Ripple Custody. SettleMint DALP: design, issuance, compliance, settlement, servicing, recordkeeping. The technical integration already existed. Today’s news is the commercial package. Launch market is Asia Pacific; global expansion is planned. No named customers, volumes, chains, or requirement to use XRPL/XRP/RLUSD. The actual pitch: Tokenization is now sold as ongoing operations (servicing, compliance, audit trails), not a one-time issuance event. Banks want fewer vendors and to keep control of keys. This is a procurement/simplification play, not a new protocol. What’s missing: Production proof. Watch for the first named APAC institution and real volume.
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