Ripple Expands Institutional Custody with Acquisition of Palisade Crypto Wallet Platform

Ripple, the blockchain company behind the XRP Ledger (XRP), has announced the acquisition of crypto wallet provider Palisade to strengthen its institutional custody and payments solutions. The move integrates Palisade’s advanced wallet-as-a-service platform into Ripple Custody, a product built for banks and corporations managing digital assets, stablecoins, and tokenized real-world assets.

According to Ripple, Palisade’s technology enables high-speed, high-frequency transactions, making it ideal for on- and off-ramp services, enterprise payments, and DeFi interactions. The platform supports multiple blockchains and allows rapid wallet creation, addressing the needs of fintech firms and global enterprises requiring secure, scalable solutions for digital asset management.

Ripple’s strategy focuses on developing a crypto-native alternative to traditional financial infrastructure, covering cross-border payments, liquidity management, stablecoin issuance, and secure digital asset handling. The company now holds over 75 regulatory licenses worldwide and counts major financial institutions like BBVA, DBS, and Societe Generale’s crypto division among its partners.

Ripple President Monica Long told CoinDesk that Palisade’s capabilities complement Ripple Payments, which has seen substantial growth amid rising stablecoin transactions. She emphasized that Palisade equips Ripple with the technical infrastructure needed to serve fast-moving clients like fintechs and global corporates seeking instant wallet deployment for payment and treasury operations.

The acquisition builds on Ripple’s rapid expansion, following its 2023 purchase of Swiss custody firm Metaco and several high-profile deals this year, including Hidden Road ($1.25 billion, now Ripple Prime), Rail ($200 million), and GTreasury. With Palisade, Ripple strengthens its position as a leading blockchain infrastructure provider, enabling institutions to manage digital assets securely and efficiently in the evolving crypto payments ecosystem.