Ripple has acquired digital pockets supplier and custody agency Palisade, the blockchain-based monetary expertise firm introduced on Monday, including to its rising listing of latest mega-purchases.
The acquisition is anticipated to extend the agency’s custody capability, permitting Ripple to raised serve crypto-native corporations, monetary expertise corporations, and different firms. Ripple didn’t disclose the phrases of the deal.
“Safe digital asset custody unlocks the crypto economic system and is the inspiration that each blockchain-powered enterprise stands on—that is why it’s central to Ripple’s product technique,” mentioned Ripple President Monica Lengthy in an announcement.
“Corporates are poised to drive the following huge wave of crypto adoption. Simply as we have seen main banks go from observing to actively constructing in crypto, corporates at the moment are getting into the market, and they want trusted, licensed companions with out-of-the-box capabilities.”
Palisade’s wallet-as-a-service (WaaS) product, which presents options like multi-party computation (MPC) and multi-blockchain help, will slide instantly into Ripple Custody and Ripple Funds—two of the fintech agency’s key enterprise choices.
“The mixture of Ripple’s bank-grade vault and Palisade’s quick, light-weight pockets makes Ripple Custody the end-to-end supplier for each institutional want, from long-term storage to real-time world funds and treasury administration,” Lengthy added.
The XRP-linked fintech agency has been increasing its service choices by means of acquisitions all through this 12 months. In April it acquired prime broker Hidden Road for $1.25 billion to service institutional shoppers on a broader scale.
Due to that acquisition, its prime clients are gaining access to dozens of cryptocurrencies in the USA.
In August it snatched up Canadian stablecoin platform Rail for $200 million and simply two weeks in the past, the agency spent one other $1 billion to acquire treasury management firm, GTreasury.
Ripple to Boost Stablecoin, XRP Payment Services With $200 Million Rail Acquisition
Past landmark acquisitions, Ripple also closed a four year legal battle with the SEC, after the 2 events ended their appeals in August.
XRP, the Ripple-linked crypto asset, made a brand new all-time excessive earlier this 12 months, climbing above $3.40 for the primary time since 2018 to $3.65. It’s since fallen round 38% to $2.30 however stays the fourth largest crypto asset with a market capitalization of $140.5 billion.
UPDATE: (November 3, 2025, 5:48 p.m. ET): Provides that Ripple wouldn’t disclose deal phrases.
