Ripple Takes A New Strategic Step

The battle for crypto custody is intensifying. Ripple Labs, a key player in cross-border payments with XRP, is taking a new step by filing the trademark “Ripple Custody.” This request reflects a clear ambition: to expand its influence beyond transactions and target the strategic sector of institutional custody, a booming market driven by the increasing demand from investors and the rise of crypto ETFs.

Ripple Custody: a strategic foray into crypto custody

Ripple Labs has officially filed a trademark application for “Ripple Custody,” a name that leaves little room for doubt regarding the company’s ambitions.

The filing document mentions four use cases, one of which is dedicated to crypto and other asset custody services. Thus, the stated goal is to offer solutions that enable:

• Secure crypto storage, primarily targeting financial institutions and institutional investors;
• A regulated custody service that minimizes risks related to loss of private keys and cyberattacks;
• A dedicated infrastructure for managing crypto, which facilitates the integration of XRP and other cryptos into institutional wallets;
• A service that ensures secure transmission and storage of funds, potentially expanding Ripple’s offerings beyond mere asset custody.

This filing is part of the continuation of a first step already taken by Ripple in October 2024 when it announced the launch of its own custody service. At that time, the company stated it was looking to diversify its revenue streams by addressing a rapidly growing market.

With the arrival of Bitcoin ETFs and the growing interest from institutional investors, crypto custody solutions have become a major issue for the sector. Ripple seems to want to take advantage of this trend to position itself against already well-established giants like Coinbase, Citi, and BNY Mellon.

A Ripple Wallet in Preparation?

The other element is the filing of a trademark application concerning the potential development of a digital wallet.

Indeed, the document indicates that the trademark could be used for downloadable software intended for the custody, transmission, and storage of crypto, fiat currencies, and other assets. A description that perfectly matches the definition of a crypto wallet. This suggests that Ripple might indeed want to offer its own product in this area.

If this project materializes, it would represent a significant evolution for Ripple, which has never before offered a native wallet solution.

Until now, XRP users have had to turn to third-party solutions such as Ledger, Trezor, Trust Wallet, or Exodus to secure their funds.

By developing an official Ripple wallet, the company could control the user experience from end to end, but also generate additional revenue through transaction fees or integrated additional services.

Ripple’s entry into the asset custody and crypto wallet market is not insignificant. It fits into a broader diversification strategy as the company continues to face regulatory challenges, particularly in the United States. Thanks to its positioning in a market where institutional demand is exploding, Ripple could strengthen its role as a key player in the management and secure storage of cryptos, despite market manipulation accusations.

Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.