Ripple has announced the acquisition of digital asset wallet and custody company Palisade, marking another step in its expansion into institutional crypto infrastructure. The transaction is part of Ripple’s continued strategy to expand its range of financial technology services.
Broad promotion of digital storage
Taking Palisade under its umbrella will give Ripple direct control of a digital custody platform designed to securely store and move crypto assets. This addition will enable Ripple to serve banks, fintech companies, and enterprises that require compliant solutions for managing digital assets, stablecoins, and tokenized assets.
Ripple said its custody platform aims to provide a secure link between traditional financial systems and blockchain systems and address institutional concerns about asset protection. Palisade’s technology includes multiparty computing and zero trust architecture, both widely used techniques to strengthen digital security.
Expanding Ripple’s product network
The acquisition builds on Ripple’s existing products, including Ripple Payments and Ripple Prime. Together, these services cover different parts of the digital financial process, from cross-border payments to asset custody. Palisade’s system supports multiple blockchains and decentralized finance (DeFi) protocols, which could help Ripple expand its presence across various cryptocurrency ecosystems.
Continued growth and investment
The deal with Palisade follows a series of acquisitions by Ripple this year. The company spent nearly $4 billion on mergers and investments, including the acquisition of prime broker Hidden Road (renamed Ripple Prime), stablecoin platform Rail, and treasury management provider GTreasury.
Experts say these moves position Ripple to compete in the broader digital financial infrastructure space, but questions remain about how quickly institutions will adopt crypto custody and payment solutions at scale.
“Secure digital asset storage is what unlocks the crypto-economy and is the foundation of any blockchain-powered business, which is why it is at the heart of Ripple’s product strategy,” said Ripple President Monica Long.
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