XRP News Today: Ripple's Secure Custody Move Aims to Unlock the Corporate Crypto Economy

Ripple, the financial technology company specializing in crypto solutions for businesses, has acquired Palisade, a digital asset wallet and custody provider, to bolster its institutional payments business, according to a Business Wire release. The acquisition expands Ripple's custody capabilities, enabling the firm to serve a broader range of clients, including fintechs, crypto-native firms, and corporates, with secure, scalable, and fast wallet-as-a-service technology.

The move aligns with Ripple's strategy to position itself as a comprehensive provider of institutional-grade custody and payments solutions. Palisade's technology, which includes multi-party computation (MPC) for key security, zero-trust architecture, and multi-chain support, will integrate directly into Ripple Payments. This integration will facilitate high-speed transactions, subscription payments, and treasury management while maintaining compliance and control, the release said.

Monica Long, President of Ripple, emphasized the importance of secure digital asset custody in unlocking the crypto economy. "Corporates are poised to drive the next massive wave of crypto adoption," she stated, noting that the combination of Ripple's bank-grade vault and Palisade's wallet technology creates an end-to-end solution for institutional needs, from long-term storage to real-time global payments, the release added.

Ripple Custody, already trusted by institutions like Absa Bank, BBVA, DBS, and Societe Generale – FORGE, offers a tamper-proof audit trail and cryptographic approval processes. Palisade's lightweight architecture further enhances this by enabling rapid wallet provisioning, DeFi integration, and secure storage across blockchains such as XRPL, Ethereum, and Solana, according to the release.

The acquisition follows a series of strategic investments by Ripple in the digital asset ecosystem, including the purchase of prime broker Hidden Road (now Ripple Prime), stablecoin payments platform Rail, and treasury management system provider GTreasury. These moves, part of a $4 billion investment in M&A and strategic initiatives, underscore Ripple's aggressive expansion into institutional crypto services, the release noted.

Palisade's technology is designed to address the growing demand for institutional custody solutions. Its MPC approach splits wallet keys into shards, eliminating single points of failure, while zero-trust architecture ensures rigorous verification for all users and devices. The company's non-custodial settlement workflows and low-latency matching capabilities have already attracted partnerships with entities like Copper and GSR in dark pool trading, the release said.

The acquisition also reflects Ripple's broader vision to bridge traditional finance and decentralized finance (DeFi). By integrating Palisade's infrastructure, Ripple aims to simplify the management of digital assets for institutions, offering tools for tokenization, compliance, and cross-chain operations, the release added.