Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Ripple, the blockchain technology firm closely associated with the XRP Ledger (XRP) network, said on Monday that it has acquired crypto wallet provider Palisade to expand its institutional custody and payment offering.
Palisade’s wallet-as-a-service platform will be integrated into Ripple Custody, a product designed for banks and corporations that manage digital assets, stablecoins and real-world tokenized assets.
Ripple said Palisade brings tools for high-speed and high-frequency use cases — such as on-and-off ramps or enterprise payment flows — where users need secure wallets that can be created and deployed quickly. The technology also supports multiple blockchains and can interact with decentralized finance (DeFi) protocols.
Ripple’s broader strategy is to build a crypto-native alternative to traditional financial infrastructure. That includes cross-border payments, liquidity, stablecoin issuance and, increasingly, the tools needed to manage assets securely. Ripple said it now holds more than 75 regulatory licenses worldwide and supports banks such as BBVA, DBS and the crypto division of Societe Generale.
With the acquisition of Palisade, Ripple gains the technical hydraulics to serve faster customers such as fintechs that require instant creation of wallets for new users or corporations that manage global treasury operations, Ripple President Monica Long told CoinDesk in an interview.
“Palisade offers the best set of capabilities to complement what we’ve built with Ripple Payments, which has grown tremendously this year with the proliferation of stablecoin payments,” Long said.
The acquisition follows Ripple’s 2023 acquisition of Swiss custody firm Metaco and three other deals this year: $1.25 billion for prime broker Hidden Road (now Ripple Prime), $200 million for stablecoin payments company Rail and treasury tech provider GTreasury.
Read more: Ripple Expands US Institutional Offering with Introduction of Digital Asset Spot Prime Brokerage
