Ripple files trademark for custody service and possible wallet

Ripple Labs has submitted a trademark application for "Ripple Custody," signaling its intent to expand further into the digital asset custody space.

The application, filed on February 25, 2025, with the United States Patent and Trademark Office (USPTO), outlines four primary use cases for the word mark.

One of the key aspects of the trademark filing is for downloadable software for custody of cryptocurrency, fiat currency, virtual currency, and digital currency.

This suggests Ripple (CRYPTO:XRP) may be developing a cryptocurrency wallet application, potentially supporting XRP and other digital assets.

The filing also covers "Financial services, namely, custodial services in the nature of maintaining storage and possession of cryptocurrency [...] for financial management purposes".

This aligns with Ripple's existing custody services launched in October 2024, which aimed to diversify the company's revenue streams beyond its payment settlement service.

Ripple's move into the custody sector follows its $250 million acquisition of Swiss custody firm Metaco in 2023.

The global cryptocurrency custody market is projected to grow significantly, with some estimates suggesting it could reach $100 billion within the next decade.

The trademark application is still in its early stages and has not yet been assigned an examiner.

The approval process could take several months, and there is a possibility of rejection if conflicting trademarks exist.

This strategic move by Ripple comes as the company continues to navigate its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

Reports suggest the SEC is considering whether to classify XRP as a commodity, which could significantly impact the token's regulatory outlook.

At the time of reporting, the XRP price was $2.32.