Ripple, the blockchain technology company closely associated with the XRP Ledger (XRP) network, announced Monday that it has acquired crypto wallet provider Palisade to expand its institutional custody and payments offering.
Palisade’s wallet-as-a-service platform will be integrated with Ripple Custody, a product designed for banks and businesses managing digital assets, stablecoins, and real-world token assets.
Ripple said Palisade brings tools for high-speed, high-frequency use cases – like entry and exit ramps or enterprise payment flows – where users need secure wallets that can be created and deployed quickly. The technology also supports multiple blockchains and can interact with decentralized finance (DeFi) protocols.
Ripple’s broader strategy is to create a crypto-native alternative to traditional financial infrastructure. This includes cross-border payments, liquidity, stablecoin issuance and, increasingly, the tools needed to manage assets securely. Ripple said it now holds more than 75 regulatory licenses worldwide and supports banks such as BBVA, DBS and the crypto division of Société Générale.
With the acquisition of Palisade, Ripple gains the technical plumbing needed to serve faster-moving customers, like fintechs that need instant wallet creation for new users or companies running global treasury operations, Ripple President Monica Long told CoinDesk in an interview.
“Palisade offered the best set of capabilities to complement what we’ve built with Ripple Payments, which has seen tremendous growth this year with the proliferation of stablecoin payments,” Long said.
The acquisition follows Ripple’s 2023 purchase of Swiss custody firm Metaco and three other deals this year: $1.25 billion for prime broker Hidden Road (now Ripple Prime), $200 million for stablecoin payments firm Rail and treasury technology provider GTreasury.
Read more: Ripple expands its US institutional offering with the introduction of Spot Prime digital asset brokerage
