Ripple, the fintech company known for its
XRP
cryptocurrency, has
taken over Palisade
, a provider of digital asset wallet and custody infrastructure, to strengthen its institutional-level custody and payment offerings. Announced on November 3, this acquisition is part of Ripple’s $4 billion growth initiative aimed at reinforcing its role as a connector between traditional finance and the digital asset sector.
Palisade’s platform, which
enables multi-chain operations
and secure management of digital assets, will be directly incorporated into Ripple’s current custody and payment systems. The company is known for its wallet-as-a-service technology, allowing quick wallet deployment on blockchains such as XRP Ledger,
Ethereum
, and
Solana
. This integration will empower Ripple to deliver faster and more scalable custody solutions to institutional clients, including fintech firms, corporations, and crypto-focused businesses. “Robust digital asset custody is the gateway to the crypto economy and forms the backbone of every blockchain-driven enterprise,” stated Monica Long, Ripple’s President, highlighting the deal’s strategic value.
This acquisition fits into Ripple’s larger strategy to expand in institutional markets,
according to a Coinotag article
. Over the last year, Ripple has bought several companies to broaden its services, such as Hidden Road (now Ripple Prime), a prime brokerage; Rail, a stablecoin payment platform; and GTreasury, a treasury management solution for businesses. These acquisitions have enabled Ripple to offer comprehensive solutions for custody, trading, and international payments, utilizing native assets like XRP and RLUSD to boost liquidity.
Palisade’s technology brings in advanced security mechanisms, including multi-party computation (MPC) key sharding and a zero-trust security model, which will strengthen Ripple’s compliance systems,
as reported by Reuters
. Such features are essential as regulatory oversight increases, especially with regulations like the EU’s MiCA and U.S. SEC standards. By adopting Palisade’s infrastructure, Ripple seeks to meet institutional needs for secure, regulation-compliant digital asset management, covering areas like subscription payments, fiat on/off ramps, and treasury functions.
This transaction also highlights the rising trend of corporate involvement in crypto. “Corporates are set to lead the next significant wave of crypto adoption,” Long mentioned in
a Cryptonewsland article
, noting that more businesses are looking for partners with robust, enterprise-level infrastructure. With more than 75 regulatory licenses worldwide, Ripple is well-equipped to serve this market, providing services to major institutions such as DBS, Societe Generale–FORGE, and BBVA.
Industry experts see this acquisition as a timely response to the increasing demand for secure digital asset storage amid growing adoption and regulatory challenges. By integrating Palisade’s multi-chain features, Ripple can expand beyond its XRP-focused network to support Ethereum, Solana, and other blockchains. This adaptability is vital for institutions managing varied digital asset portfolios and seeking seamless interaction across different blockchain platforms.
Ripple’s bold growth strategy demonstrates its ambition to lead in institutional crypto services. With Palisade’s technology, Ripple plans to optimize processes for instant payments, asset settlements, and regulatory compliance, aiming to capture a larger portion of the expanding $10 trillion digital custody industry. This acquisition comes on the heels of Ripple’s recent legal win against the SEC, allowing the company to pursue innovation without legal hindrance.
