SAN FRANCISCO – Ripple, a provider of cryptocurrency and enterprise blockchain solutions, said on Tuesday it has acquired digital asset wallet and custody company Palisade, a move aimed at significantly expanding its services for financial institutions and corporations entering the digital asset space.
The acquisition will combine Ripple’s existing “bank-grade vault” for long-term storage with Palisade’s fast, scalable “wallet-as-a-service” technology, the company said. This will allow Ripple to offer a more comprehensive custody solution, catering to needs ranging from secure storage to high-speed transactions and treasury management.
“Secure digital asset custody unlocks the crypto economy and is the foundation that every blockchain-powered business stands on,” said Monica Long, President of Ripple, in a statement. “Corporates are now entering the market, and they need trusted, licensed partners with out-of-the-box capabilities.”
Financial terms of the deal were not disclosed.
Ripple, which is known for its cross-border payment network and its associated cryptocurrency XRP, has been aggressively expanding its portfolio through acquisitions this year. These include prime broker Hidden Road, now Ripple Prime, stablecoin payments platform Rail, and treasury management system provider GTreasury. The company stated it has invested approximately $4 billion into the crypto ecosystem through strategic investments and mergers and acquisitions.
The Palisade acquisition is designed to directly address the growing demand from corporations and fintechs for secure and efficient ways to handle digital assets, including stablecoins and tokenized real-world assets (RWAs). Palisade’s technology uses Multi-Party Computation (MPC) to split private keys for enhanced security and is built for quick wallet provisioning and multi-chain support.
Ripple said Palisade’s wallet technology will also be integrated into its Ripple Payments product to facilitate use cases like subscription payments and high-speed transaction signing. Ripple Custody is already used by several global financial institutions, including Absa Bank, BBVA, and Societe Generale – FORGE.
The company, which says it holds over 75 regulatory licenses globally, highlighted that the combined offering positions it as a key bridge between traditional finance and the emerging world of decentralized finance (DeFi).