TL;DR: A BCG report commissioned by Ripple says custody buyers increasingly judge governance, interoperability and operational integration alongside asset security.
Institutional custody is becoming a question of how assets can be used, not just where keys are stored. Ripple’s October 21 discussion of a Boston Consulting Group research report argues that security is now a baseline requirement for banks and investment firms evaluating digital asset providers.
The report highlights policy controls, interoperability and the ability to connect custody with settlement, payments and treasury systems. BCG estimates that more than 30% of digital assets outside centralised exchanges are held through institutional custody models. That is an estimate from the commissioned research, rather than a directly observed count of every wallet in the market.
The shift matters for stablecoins and tokenised securities. Institutions may be comfortable with a technically secure wallet yet unable to deploy an asset if approval procedures, reporting or compatibility with existing systems are missing. Some firms could choose multiple custodians behind a shared orchestration layer; others may prefer integrated services.
Ripple sells custody infrastructure, so its framing is commercially interested and should be read as such. Nevertheless, the underlying question is pertinent across the industry. The winning custody model may be the one that makes conventional institutional controls possible without taking away the settlement advantages that attracted the bank to blockchain in the first place.
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