Ripple, the blockchain company linked to the XRP Ledger, announced Monday it has acquired Palisade, a crypto wallet provider, to broaden its institutional custody and payments services.
The integration of Palisade’s wallet-as-a-service platform into Ripple Custody aims to support banks and corporate clients handling digital assets, stablecoins, and tokenized real-world assets.
Palisade’s Technology Supports High-Speed Use Cases
Palisade offers tools designed for high-frequency operations such as on- and off-ramps and enterprise payment flows. Its wallet technology enables rapid creation and deployment while maintaining security. Additionally, it supports multiple blockchains and interaction with decentralized finance (DeFi) protocols.
Ripple’s Strategy to Build Crypto-Native Financial Infrastructure
Ripple continues to develop alternatives to traditional financial infrastructure, focusing on cross-border payments, liquidity, stablecoin issuance, and secure asset management tools. The company holds over 75 regulatory licenses worldwide and counts banks like BBVA, DBS, and Societe Generale’s crypto division among its clients.
Monica Long, Ripple’s president, told CoinDesk that Palisade’s capabilities complement Ripple Payments, which has seen significant growth this year amid rising stablecoin payment adoption.
Recent Acquisitions Strengthen Ripple’s Market Position
The Palisade acquisition follows Ripple’s 2023 purchases of Swiss custody firm Metaco and three other companies: prime broker Hidden Road (rebranded as Ripple Prime) for $1.25 billion, stablecoin payments firm Rail for $200 million, and treasury technology provider GTreasury.
