Palisade Wallet Integration Strengthens Ripple Custody and Payments
Ripple announced on Monday that it will integrate Palisade’s wallet-as-a-service technology into Ripple Custody, the firm’s digital asset custody arm focused on serving banks and financial institutions. The acquisition aims to extend Ripple’s services to fintechs, crypto-native firms, and large corporations, highlighting the company’s push into broader institutional markets.
Ripple President Monica Long stated, “Corporates are poised to drive the next massive wave of crypto adoption. Just as we’ve seen major banks go from observing to actively building in crypto, corporates are now entering the market, and they need trusted, licensed partners with out-of-the-box capabilities.”
The acquisition follows a string of strategic deals by Ripple in 2024, coinciding with the Securities and Exchange Commission (SEC) ending its long-standing legal dispute with the company. Ripple has since diversified its portfolio, expanding into trading, stablecoins, and crypto treasury management.
Ripple confirmed that Palisade’s wallet technology will also be integrated with Ripple Payments, its cross-border payment network. The addition will serve as the core infrastructure for subscription and collection-based payment models, supporting crypto-to-fiat conversions and interoperability across multiple blockchains and DeFi protocols. These enhancements aim to improve speed, scalability, and accessibility for enterprise clients.
Ripple’s $4 Billion Acquisition Spree
This deal brings Ripple’s total acquisition spending to nearly $4 billion, reflecting the company’s aggressive expansion strategy. Earlier this year, Ripple completed a $1.25 billion acquisition of Hidden Road, a crypto-friendly prime broker that now enables U.S. institutional clients to access over-the-counter (OTC) trading for various digital assets.
In October, Ripple also purchased GTreasury, a crypto treasury management system, in a $1 billion deal, targeting public companies holding digital assets. Additionally, its $200 million acquisition of Rail, a stablecoin payments platform, is expected to close by the end of this year.
Through these acquisitions, Ripple is positioning itself as a comprehensive enterprise blockchain provider, combining custody, payments, and liquidity services under one ecosystem.
