Ripple, the blockchain technology firm closely linked to the XRP Ledger network (XRP), said on Monday it has acquired crypto wallet provider Palisade to expand its institutional custody and payment offering.
Palisades’ wallet-as-a-service platform will be integrated into Ripple Custody, a product designed for banks and businesses that handle 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 technique 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. It includes cross-border payments, liquidity, stablecoin issuance and, increasingly, the tools needed to securely manage assets. Ripple said it now has over 75 regulatory licenses globally and supports banks such as BBVA, DBS and Societe Generale’s crypto division.
With the acquisition of Palisade, Ripple has the technical plumbing to serve faster-moving customers like fintechs that need instant wallet creation for new users or companies managing global financial operations, Ripple president Monica Long told CoinDesk in an interview.
“Palisade offered the best set of opportunities to complement what we’ve built with Ripple Payments, which has grown tremendously this year with stablecoin payment proliferation,” Long said.
The purchase follows Ripple’s 2023 purchase 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 firm Rail and treasury tech provider GTreasury.
Read more: Ripple expands US institutional offerings with introduction of Digital Asset Spot Prime Brokerage
