DXC and Ripple collaborates around digital asset custody to help global banks introduce secure payment solutions and digital asset management into existing core banking systems.
DXC Technology (NYSE: DXC), a leading partner in enterprise technology and innovation, today announced a strategic partnership with Ripple, a fintech company that offers crypto solutions for businesses, with the aim of helping banks seamlessly introduce digital asset custody and enterprise-class payment capabilities.
As regulated financial institutions navigate an era of exponential change, access to easily accessible and secure blockchain infrastructure is critical to enabling the adoption of digital assets. Through this collaboration, DXC and Ripple It enables financial institutions and fintech companies to seamlessly access digital asset technology, thereby building bridges between traditional financial systems and on-chain finance.
The solution enables programmable payments as well as tokenization, storage and transfer of digital assets, enabling institutions to deliver regulated use cases for digital assets without disrupting mission-critical core banking systems.
Leveraging DXC’s core banking platform Hogan, which powers more than 300 million deposit accounts and over $5 trillion in deposits globally, the initiative integrates Ripple’s digital asset custody and payments technology into large-scale banking environments, providing Hogan’s clients with an efficient path to offer digital asset custody and payment capabilities.
For digital assets to become part of the financial mainstream, institutions need secure storage and seamless payment capabilities, says Sandeep Bhanote, Global Head and General Manager of Financial Services at DXC. Our work with Ripple brings together these capabilities in a way that allows banks to engage in the digital asset ecosystem without changing their core systems, by connecting traditional accounts, wallets, and enterprise-grade decentralized platforms.
By delivering the last mile connection between regulated banking infrastructure and digital asset platforms, the collaboration helps financial institutions move from experimentation to actual implementation of blockchain-based use cases. Fintech companies also benefit from simplified access to the banking relationships required to support compliant custody and payments solutions.
Banks are under increasing pressure to modernize while continuing to operate on complex infrastructure, says Joanie Xie, VP and Managing Director, North America at Ripple. Our partnership with DXC brings digital asset custody, RLUSD, and payments directly into the core banking environments that institutions already trust. Together, we enable banks to deliver secure and compliant enterprise-grade digital asset use cases, without disruption.
The DXC-Ripple partnership reinforces DXC’s commitment to helping financial institutions modernize securely and innovate responsibly, and represents a significant step forward in enabling the adoption of digital assets in production banking environments globally, through an integrated approach to core banking systems.
Ripple Payments is a licensed end-to-end cross-border payments solution that enables Ripple to manage payment flows on behalf of its customers. Ripple Custody is designed for banks and financial institutions that need to securely manage digital assets, stablecoins or real assets.
About DXC Technology
DXC Technology is a leading enterprise technology and innovation partner delivering software, services and solutions to global enterprises and public sector organizations, helping them use AI to drive results in an era of exponential change. With deep expertise in Managed Infrastructure Services, Application Modernization and industry-specific software solutions, DXC modernizes, secures and powers DXC some of the world's most complex technology environments. Read more at dxc.com.
About Ripple
Ripple is a fintech company that offers crypto solutions for businesses. Ripple Payments uses blockchain technology to make cross-border payments faster, more transparent and more accessible. Ripple Custody offers customers a secure way to store and manage digital assets. Through Ripple Prime, the company offers a global prime brokerage service for multiple asset classes aimed at institutional clients. Ripple's stablecoin RLUSD and the cryptocurrency XRP are used within these solutions to streamline traditional finance and enable new ways to use digital assets.
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