- Key capabilities
- Other recent partnerships
DXC Technology (NYSE: DXC) has announced a high-profile partnership with enterprise blockchain company Ripple to embed institutional-grade digital asset capabilities directly into the banking infrastructure.
As part of the tie-up between the two companies, Ripple’s blockchain solutions will be integrated into DXC’s Hogan banking platform.
Notably, this legacy system supports more than $5 trillion in deposits and 300 million accounts across the globe.
DXC, which is a Fortune 500 company, serves close to 6,000 private and public sector clients from dozens of countries.
Key capabilities
Banks are facing increasing pressure to modernize. However, their core systems are often decades old and complex.
Hence, DXC and Ripple are providing a “bridge.” Banks can get access to digital asset features without disrupting their existing operations.
This makes it possible for hundreds of financial institutions to go directly to the phase of real-world deployment after experimenting with the technology.
Of course, the sheer scale of DXC’s client base presents a significant opportunity for Ripple.
Because of this partnership, various banks will be able to offer digital asset custody, programmable payments, and the tokenization of real-world assets (RWAs).
Other recent partnerships
The San Francisco-based company also recently partnered with LMAX Group, which is a leading institutional exchange for FX and crypto.
LMAX agreed to integrate Ripple’s stablecoin, RLUSD, as a “core collateral asset.”
Last year, Ripple also scored an agreement with BBVA, one of the largest banking groups in the world. The deal focused on providing digital asset custody infrastructure.