Ripple, a financial tech firm that provides crypto solutions for businesses, announced the acquisition of digital asset wallet and custody firm, Palisade. The acquisition will now further expand Ripple’s custody capabilities to serve the needs of fintechs, crypto-native firms, as well as corporates.
Ripple Custody is intended for banks and FIs who want to safely secure digital assets, stablecoins or Real World Assets (RWAs). With this acquisition, Ripple can now serve a “broader set of customers and use cases.
Palisade brings a scalable “wallet-as-a-service” tech designed for the movement of value and integration, making it suitable “for the use cases of customers who need an out-of-the-box solution ideal for high-frequency transactions, on- and off-ramps and payments.”
Ripple Custody is used by institutions, such as Absa Bank, BBVA, DBS, Societe Generale – FORGE and more. It’s designed to act as a secure “vault” for institutional crypto, “offering a tamper-proof audit trail and cryptographic approval process ideal for compliance.”
It supports management of multiple vaults, “providing a complete view across assets and venues.”
Palisade’s architecture combines governance and security features—including Multi-Party Computation (MPC) and zero-trust architecture—”with fast wallet provisioning, multi-chain support, and DeFi integration.”
Palisade’s technology will now integrate into Ripple Payments, complementing use cases that “require mobilizing value efficiently.”
It will provide the core infrastructure for subscription payments or collection capabilities—”provisioning wallets at scale, facilitating high-speed transaction signing, and sweeping funds efficiently to operational accounts.”
Ripple continues to enhance its custody solution for enterprise adoption, including integrations “with crypto compliance providers like Chainalysis and Elliptic.”
With over 10 years of experience and more than 75 regulatory licenses and registrations, Ripple is positioned “to bridge traditional finance and decentralized finance.”
The move now marks Ripple’s expansion and investment in the digital asset ecosystem, following acquisitions like “prime broker Hidden Road, now known as Ripple Prime, stablecoin payments platform Rail, and treasury management system provider GTreasury.”
Ripple has invested approximately “$4 billion into the crypto ecosystem through investments and M&A.”
As covered, Fintech firm Ripple offers crypto solutions for businesses. Ripple Payments uses blockchain in order to make cross-border payments “faster, more transparent, and widely accessible.”
Ripple Custody offers customers a way to store and manage digital assets.
Via Ripple Prime, the firm reportedly provides a multi-asset prime brokerage for institutional customers.
Ripple’s stablecoin (RLUSD,) as well as the cryptocurrency, XRP, are now leveraged “across these solutions to make traditional finance more efficient and enable new ways to utilize digital assets.”
Palisade is a digital asset infrastructure company “that provides custody and wallet solutions for businesses.”
Palisade Wallets offers an API that enables integration of multi-party computation (MPC) wallet tech, enabling businesses “to build payment systems, tokenization platforms, and Web3 apps with seamless user onboarding and transaction management.”
Palisade Custody provides regulated, institutional-grade storage for digital assets, utilizing “hardware security modules and cryptography to eliminate single points of failure.”
With integrations across blockchains such as XRPL, Ethereum, and Solana, Palisade’s solutions enable organizations to “store, manage, and transact with digital assets while maintaining compliance and control.”